Camlin Fine Sciences Limited has filed a draft tender offer with the French Stock Markets Authority (AMF) for a simplified cash tender offer (offre publique d'achat simplifiée, or OPAS) targeting the remaining shares of Vinpai's share capital not held by the company. The offer is priced at EUR 3.60 per Vinpai share, consistent with the price paid during the earlier Block Acquisition. This disclosure was made pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Background: Acquisition of Majority Stake in Vinpai

Camlin Fine Sciences, described as a leading Indian group in shelf life solutions for flavour and health & wellness ingredients, completed the acquisition of a majority stake in Vinpai (ISIN: FR001400AXT1; mnémonique: ALVIN), listed on Euronext Growth Paris, on November 27, 2025. The acquisition was executed by way of contribution in kind. Additionally, the company proceeded with the conversion of convertible bonds, allowing it to subscribe to 1,100,000 new ordinary shares of Vinpai that were issued to it.

The key details of the company's current holding in Vinpai are summarised below:

Draft Offer Filed with the AMF

On May 4, 2026, Camlin Fine Sciences filed its draft tender offer with the AMF pursuant to Articles 234-2 and 235-2 of the General Regulation of the AMF. The OPAS targets the remaining shares of Vinpai's share capital that are not held by the company. The timetable and terms and conditions of the OPAS are detailed in the Draft Offer Document, which remains subject to review by the AMF.

The Draft Offer Document is available on the websites of the AMF ( www.amf-france.org ), of Camlin Fine Sciences ( www.camlinfns.com ), and of Vinpai ( https://vinpai-finance.com/fr/ ).

Independent Expert Opinion and Board Approval

Crowe HAF was appointed as an independent expert on March 14, 2025 by the Board of Directors of Vinpai, upon the recommendation of its ad hoc committee, to review the fairness of the financial terms of the OPAS. On April 27, 2026, Crowe HAF issued its report, concluding as follows:

"In summary, the Offer provides the opportunity to the Company's shareholders to obtain immediate liquidity of its participation at a price equal to price paid in the Block Acquisition, and which includes premiums over the evaluation methods implemented by us. On the basis of all these factors, it is our opinion that the terms of the Simplified Tender Offer, optional offer for minority shareholders and proposing a price of EUR 3.60 per Vinpai share, are fair from a financial standpoint for the minority shareholders of Vinpai."

Based on the conclusions of the fairness opinion issued by Crowe HAF and the recommendation of the ad hoc committee, Vinpai's Board of Directors unanimously issued a reasoned favorable opinion on the OPAS. The independent expert's report is reproduced in full in the appendix to the company's response document.

Squeeze-Out Procedure: No Longer Intended

Camlin Fine Sciences has also clarified that it no longer intends to ask the AMF to implement a squeeze-out procedure for Vinpai shares from the Euronext Growth Paris market. The advisors to Camlin Fine Sciences for this transaction include Allinvest Securities as the presenting institution and Fontaine Avocats as legal advisor.

This disclosure was made by Rahul Sawale, Company Secretary & VP Legal of Camlin Fine Sciences Limited, on May 4, 2026.

Infinity Portfolio Holdings, the promoter of Camlin Fine Sciences Ltd., has submitted a regulatory declaration confirming no encumbrance on the company's shares for the financial year ended March 31, 2026. The declaration was filed on April 02, 2026, in compliance with SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Regulatory Declaration Details

The declaration was submitted pursuant to Regulation 31(4) of the SEBI Takeover Regulations by Infinity Portfolio Holdings, which operates through Vistra Alternative Investments (Mauritius) Limited. The document confirms that the promoter has not created any encumbrance on shares held directly or indirectly, beyond those previously disclosed.

Compliance and Disclosure

The declaration was simultaneously submitted to multiple regulatory bodies and company officials to ensure comprehensive compliance. The promoter entity confirmed that no new encumbrances were created on company shares during the specified financial year, maintaining transparency in shareholding patterns. The document was signed by Shewinrao Ladkoo, Director, from the Ebene, Mauritius office.

Submission Recipients

The regulatory filing was addressed to multiple stakeholders as part of standard compliance requirements:

This declaration represents standard regulatory compliance for promoter entities, ensuring stakeholders remain informed about any changes in share encumbrance status. The submission maintains the company's adherence to SEBI's transparency requirements under the takeover regulations.