Parnax Lab Limited has initiated a postal ballot process to seek shareholder approval for the re-appointment of Mr. Yogesh Kantilal Varia as a Non-Executive Independent Director for a term of five years. The resolution, subject to shareholder consent, proposes the appointment effective from May 28, 2026, to May 27, 2031. The Board of Directors approved the proposal during its meeting held on May 28, 2026, based on the recommendation of the Nomination & Remuneration Committee.

Postal Ballot Calendar

The company has established a schedule for the postal ballot and e-voting process. The cut-off date for determining voting rights is July 3, 2026. The remote e-voting facility will be available from July 10, 2026, at 9:00 A.M. (IST) until August 8, 2026, at 5:00 P.M. (IST). The results of the postal ballot are scheduled to be declared on or before August 10, 2026.

Director Profile and Disclosures

Mr. Yogesh Kantilal Varia (DIN: 09186184) possesses over 40 years of experience in pharmaceutical and cosmetics manufacturing. He holds a Bachelor of Science (BSE) degree. The company has received his consent to act as a director via Form DIR-2 and a declaration of disqualification via Form DIR-8. He has also submitted a declaration confirming he meets the independence criteria under Section 149(6) of the Companies Act, 2013. Mr. Varia does not hold any shares in the company and is not related to any other directors or key managerial personnel.

Voting Process and Scrutinizer

M/s. MUFG Intime India Pvt. Ltd. has been appointed to provide the e-voting facility. The Board has appointed Mr. Hemant Shetye or Mr. Kunal Sakpal, Designated Partners of HSPN & Associates LLP, as the Scrutinizer to ensure the process is conducted fairly. Shareholders can cast their votes electronically through the InstaVote platform or via their respective depositories, NSDL and CDSL. The notice is available on the company's website and the website of MUFG Intime.

Prakash Mahasukhlal Shah, a promoter of Parnax Lab Limited , has intimated the stock exchanges regarding the proposed acquisition of 3,61,872 equity shares. The shares, representing 3.15% of the total share capital of the company, will be acquired from Ila B. Shah, another promoter, through an inter-se transfer by way of gift. The transaction is exempt from making an open offer under Regulation 10(1)(a)(ii) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, as it involves a transfer amongst promoters.

The proposed acquisition is scheduled to take place any time after four working days from the date of the intimation, which was submitted on June 25, 2026. As the transfer is structured as a gift, the acquisition price is not applicable, and the volume weighted average market price calculations are not required. The acquirer has declared compliance with the applicable disclosure requirements specified in Chapter V of the Takeover Regulations, 2011.

Following the completion of the inter-se transfer, the individual shareholding of the acquirer and the seller will change, while the aggregate holding of the Promoter and Promoter Group will remain unchanged. Prakash Mahasukhlal Shah’s shareholding will increase from 12,01,676 shares (10.46%) to 15,63,548 shares (13.61%). Conversely, Ila B. Shah’s holding will decrease from 13,61,872 shares (11.86%) to 10,00,000 shares (8.71%).

Shareholding Pattern

The table below details the shift in shareholding pre- and post-transaction for the entities involved in the inter-se transfer.

The disclosure confirms that all conditions specified under Regulation 10(1)(a) regarding exemptions have been duly complied with by the acquirer.