Baba Arts Chairman Resigns Post Open Offer and Management Change

Baba Arts Ltd announced that its Board of Directors, in a meeting held on October 9, 2026, noted the resignation of Mr. Nikhil G. Tanwani as Chairman, effective the close of business hours on the same day. This resignation follows a change in the management and control of the company subsequent to the successful completion of an Open Offer by M/s Skybridge Interactive LLP, the Acquirer. Mr. Tanwani confirmed that his resignation is solely due to this change in control and not due to any other material reasons. He also resigned as Managing Director and Director, citing the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.