Asahi Songwon Colors Limited has scheduled an Extraordinary General Meeting (EGM) for Tuesday, August 25, 2026, at 11:30 am IST to seek shareholder approval for the appointment of Arjun Gokul Jaykrishna as Chief Executive Officer (CEO) and Executive Director. The meeting will also authorize the company to extend loans, guarantees, or securities up to an aggregate of ₹150 crore to its subsidiaries to support their working capital and capital expenditure needs. This corporate action is critical for shareholders as it formalizes top leadership succession and approves significant financial exposure to related entities.

The appointment of Mr. Jaykrishna, who currently serves as an Executive Director, is recommended by the Nomination and Remuneration Committee. He holds a Bachelor of Science in Chemical Engineering with a minor in Sustainable Energy from Northwestern University, USA. His new tenure as CEO & Executive Director will span three years, commencing on May 27, 2026, and ending on May 26, 2029. The resolution allows the Board to alter terms and conditions within limits prescribed under Section 197 read with Schedule V of the Companies Act, 2013.

Key Dates and Voting Details

Shareholders holding shares as of the cut-off date, August 18, 2026, are eligible to vote. Remote e-voting will be facilitated by National Securities Depository Limited (NSDL). Proxy appointments are not available for this meeting due to the VC/OAVM format.

Members can cast votes electronically during the remote e-voting window or during the EGM via the Video Conferencing or Other Audio Visual Means (VC/OAVM) platform. The facility for participation through VC/OAVM will be made available for 1,000 members on a first-come, first-served basis, excluding large shareholders, promoters, institutional investors, directors, and key managerial personnel.

Remuneration Structure

Mr. Jaykrishna’s remuneration includes a basic salary not exceeding ₹6 lakh per month, effective May 27, 2026. He is also entitled to variable performance pay capped at 100% of his annual base pay. Perquisites include housing allowances (up to 60% of salary), medical reimbursement (one-month salary annually), and leave travel concessions. The aggregate remuneration must adhere to the limits under Section 196 and 197 of the Companies Act, 2013.

Subsidiary Loan Authorization

The second special resolution seeks approval under Section 185 of the Companies Act, 2013, to provide financial assistance to subsidiaries Asahi Tennants Color Private Limited and Atlas Life Sciences (India) Private Limited. The funds are intended for principal business activities, including capital expenditure and working capital requirements. M/s. S. Sharda & Associates, Chartered Accountants, have been appointed as the scrutinizer for the e-voting process.

Asahi Songwon Colors has appointed Mr. Maulik P. Shah as its Chief Financial Officer (CFO) and Key Managerial Personnel effective July 07, 2026. The Board of Directors approved the appointment based on the recommendations of the Nomination and Remuneration Committee and the Audit Committee. This leadership change strengthens the company's financial management structure as it continues its operations in the pigment and colorants business.

Appointment Details

Mr. Maulik P. Shah is a qualified Chartered Accountant and a Member of the Institute of Chartered Accountants of India (ICAI). He possesses over 20 years of extensive experience in areas such as plant and commercial controlling, financial planning and analysis, budgeting, treasury management, insurance, foreign exchange management, mergers and acquisitions, and internal financial controls.

Professional Background

Prior to joining Asahi Songwon Colors, Mr. Shah served as General Manager – Accounts with AIA Engineering Limited from January 2023 to June 2026. Before that, he was associated with Johnson Controls–Hitachi Air Conditioning India Limited from May 2007 to January 2023, where he held the position of General Manager – Accounts & Audit.

Board Authorisation

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board has authorised Mr. Gokul M. Jaykrishna, Mr. Maulik P. Shah, and Mr. Joseph Saji Varghese as Key Managerial Personnel for determining materiality of events and making disclosures to Stock Exchanges. The Board meeting commenced at 11.30 AM and concluded at 12.10 PM on July 07, 2026.