Pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015 and other applicable laws, we inform you that the Board of Directors of the Company (Board) has, at its meeting held today i.e. 10th November 2019, inter-alia, considered and given its in-principle approval for the merger of Gokak Sugars Limited, a subsidiary of the Company, with the Company, subject to necessary approvals. The draft scheme of merger (Scheme) (along with a valuation report by a registered valuer, fairness opinion prepared by an independent SEBI registered merchant banker, the report of the audit committee of the Company, and other requisite documents) shall be placed before the Board for its consideration and approval at a subsequent meeting. The Scheme, if subsequently approved by the Board, shall be subject to all requisite approvals, disclosures and other compliances in accordance with the Companies Act, 2013, the LODR Regulations and other applicable laws. Merger of Gokak Sugars Limited, a subsidiary of the Company, with the Company (As per BSE Announcement Dated on 09/11/2020) Outcome of Board Meeting held on 28 October 2021 (As Per BSE Announcement Dated on 28.10.2021) Outcome of Board Meeting held on 11th August 2023 As per the Valuation Report, GSL is valued at Rs. 6.99 per share and SRSL has been valued at Rs. 46.58 per share. Accordingly, the swap ratio is 0.15:1 (i.e. 15 shares of Re 1 each of SRSL for every 100 shares of Rs. 10 each of GSL) The Company has approved the merger of Gokak Sugars Limited, a subsidiary of the Company, with the Company, subject to necessary approvals (As Per BSE Announcement Dated on 11.08.2023)