Mangalam Worldwide Limited has fixed Friday, July 10, 2026, as the record date to determine shareholder eligibility for the sub-division of equity shares from a face value of ₹10 to ₹1. The split involves converting every one fully paid-up equity share of ₹10 into ten fully paid-up equity shares of ₹1 each. This corporate action follows the approval of shareholders through a postal ballot process that concluded on June 20, 2026.

The Board of Directors had previously decided on May 15, 2026, to seek shareholder consent for the sub-division and the alteration of the capital clause of the Memorandum of Association. The resolutions were passed as ordinary resolutions under Section 114(2) of the Companies Act, 2013, and the postal ballot process complied with Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The remote e-voting facility was provided by MUFG Intime India Private Limited, with the voting period running from May 22, 2026, to June 20, 2026. CS Manoj Hurkat, Partner at M/s. Manoj Hurkat & Associates, served as the scrutinizer. Mr. Vipin Prakash Mangal, Chairman, declared the results in the presence of Soham Raval, Company Secretary & Compliance Officer.

Key Details of the Share Split

Mangalam Worldwide Limited has appointed Mr. Pankaj Kumar Sahay as its Europe Business Head effective June 01, 2026, to steer its international growth initiatives. The appointment, approved by the Board via a circular resolution on the recommendation of the Nomination and Remuneration Committee, aligns with the company's strategy to establish a business presence in Europe. Mr. Sahay will also be appointed as a Director in the proposed wholly owned subsidiary that the company is currently incorporating in Belgium or the Netherlands. This strategic move aims to leverage his extensive experience to facilitate long-term growth and operational efficiencies in the European steel industry.

The company is in the process of incorporating a wholly owned subsidiary in Belgium, the Netherlands, or another European country to expand its international presence. The proposed entity will operate within the steel industry and undertake activities aligned with Mangalam Worldwide's existing business operations. The incorporation is subject to the receipt of necessary regulatory approvals and compliance with statutory formalities. Mangalam Worldwide intends to hold 100% of the shareholding and control in the proposed subsidiary, with the consideration to be intimated upon incorporation.

Mr. Pankaj Kumar Sahay brings over 27 years of experience in managing B2B industrial and steel businesses across Europe and India. Prior to this appointment, he was associated with Jindal Stainless Limited and Tata International, gaining extensive experience in international trade, global business development, and EU trade regulations. Within the Jindal Group, he served as Chief Executive Officer and Board Member of Iberjindal S.L., Spain, and led the European operations of Jindal Stainless Limited. He holds a B.Tech in Manufacturing Engineering from the National Institute of Advanced Manufacturing Technology, Ranchi, and an MBA in Marketing from SMU.

Key Details of Appointment and Subsidiary

The following table outlines the key parameters of the appointment and the proposed subsidiary:

The transaction will not fall within related party transactions initially, as the promoters and promoter group have no interest in the entity. However, upon the allotment of shares, the wholly owned subsidiary will become a related party to the company. Mr. Sahay is not related to the promoters or any members of the Board of Directors of the company or their relatives, and he does not hold any shareholding in the company.