The Board of Directors of Accord Synergy Limited convened a meeting on May 6, 2026, commencing at 4:30 p.m. and concluding at 5:15 p.m., during which two significant corporate actions were deliberated upon and acted on — the noting of a Share Purchase Agreement (SPA) involving a change in promoter shareholding, and the approval of a preferential issue of equity shares.

Share Purchase Agreement: Up to 40% Stake to Change Hands

The board noted and took on record the execution of an SPA dated May 6, 2026, between the existing promoters of the company — Mr. Betulla Khan and Mrs. Roli B Khan (collectively, the "Sellers") — and Dr. Faruk Patel ("Acquirer") along with Mr. Muinulhaque Kadva ("Person Acting in Concert" or "PAC"). Accord Synergy Limited is not a party to the SPA. The key terms of the agreement are summarised below:

Pursuant to the SPA, the Acquirer will be required to make an open offer in accordance with the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations. The consummation of the proposed transaction is subject to the satisfaction of conditions precedent, including receipt of relevant customary approvals. Upon completion of the transaction and the open offer, the Acquirer together with the PAC will acquire joint control over the company along with the existing Promoter Group and will be classified as promoters/Promoter Group of the company in accordance with applicable law. The board of the company shall also be reconstituted to include directors nominated by the Acquirer upon completion of the transaction.

Preferential Issue of Equity Shares Approved

In the same meeting, the board considered and approved the issuance of equity shares on a preferential basis, subject to shareholder approval and other necessary regulatory clearances. The preferential issue is in accordance with Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, the SEBI LODR Regulations, and the Companies Act, 2013. The details of the proposed preferential issue are as follows:

Post-Issue Shareholding Impact

The preferential issue, when combined with the shares to be acquired under the SPA, will have a material impact on the shareholding structure of the company. The post-issue shareholding of Dr. Faruk Patel is detailed below:

Post-issue shareholding includes 12,49,920 equity shares to be acquired under the SPA and 4,00,000 equity shares to be allotted through the proposed preferential issue. Shares acquired through the open offer shall be over and above the aforesaid number of shares.

Further developments and updates in connection with the SPA and the preferential issue will be intimated to the stock exchanges in due course. The disclosures along with enclosures are available on the company's website at www.accordsynergy.com .