ISGEC Heavy Engineering Ltd. Faces Delay in Completion of Subsidiary Sale - Revised Completion Date Set to September 15, 2025

ISGEC Heavy Engineering Ltd. has announced an update regarding the sale of its step-down subsidiaries. The sale of the entire shareholding of the non-material wholly owned subsidiary, Isgec Investments Pte. Ltd., Singapore, in its wholly owned subsidiary, Bioeq Energy Holdings One, Cayman Islands, is experiencing further delays primarily due to procedural delays faced by the buyer in obtaining approvals and funds from their bankers. The initially expected completion date was March 10, 2025, but based on discussions with the buyer, the revised expected completion date is now September 15, 2025. The transaction will result in the aforementioned companies ceasing to be step-down subsidiaries and associate companies of ISGEC Heavy Engineering Ltd. The company will keep stakeholders informed and provide updates as the situation progresses.