Amalgamated Electricity Company Ltd: Promoters Seek Reclassification to Public Category

Amalgamated Electricity Company Ltd has received a request from promoters, Mrs. Veena Dalal, Mr. Satyen Dalal, and CIFCO Limited, for reclassification of their status from 'Promoter/Promoter Group' to 'Public' category under Regulation 31A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The request letters from the promoters are enclosed for reference. The promoters have confirmed that they do not control the affairs of the company, have no special rights, are not involved in management or policy decisions, do not hold any Key Managerial Personnel positions, and do not act in concert with any members of the existing Promoter or Promoter Group. Their shareholding is held solely for investment purposes. They confirm that all conditions for reclassification are satisfied and they are not 'wilful defaulters' or 'fugitive economic offenders' as per RBI guidelines.