Midland Polymers Limited has submitted the Letter of Offer to the Securities and Exchange Board of India (SEBI) for its open offer to acquire up to 26.00% of the expanded equity share capital. The offer is being made by a group of acquirers, including Gayathri Boreddy, Jagannath Edla, Radha Krishna Avudari, Mahammad Amaan Shaik, and Ravi Kiran Veeramalla. The acquirers intend to purchase up to 97,50,000 fully paid-up equity shares of ₹10 each at a price of ₹10 per share.

The open offer is being conducted in compliance with the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Navigant Corporate Advisors Limited is acting as the Manager to the Offer, while Purva Sharegistry (India) Private Limited is the Registrar to the Offer. The offer is not subject to any minimum level of acceptances and is not a conditional offer.

Revised Schedule of Activities

The timeline for the open offer has been established, with the offer opening on June 3, 2026, and closing on June 16, 2026. The table below details the key dates for the critical activities associated with the offer.

Offer Details and Shareholder Eligibility

The identified date of May 19, 2026, is crucial for determining the shareholders to whom the Letter of Offer will be dispatched. All registered and unregistered owners of equity shares, excluding the acquirers, promoters, and the selling company, are eligible to participate in the offer at any time before its closure. The offer price of ₹10 per share is justified based on the negotiated price for the preferential allotment. The acquirers have deposited ₹250.00 Lacs in an escrow account with Kotak Mahindra Bank Limited, which is in excess of 25% of the offer consideration.

Midland Polymers Limited successfully conducted its 1st Extraordinary General Meeting (EGM) for the Financial Year 2026-27 on Saturday, April 25, 2026. The meeting was held through video conference and other audio-visual means, demonstrating the company's adaptation to modern corporate governance practices.

Meeting Details and Attendance

The EGM commenced at 11:00 a.m. and concluded at 11:08 a.m., with a total of 6 members in attendance. Mrs. Mounika Pammi was appointed as chairperson for the meeting, while Ms. Archita Singh Gangwar, Company Secretary and Compliance Officer, facilitated the proceedings.

Board and Key Management Personnel Present

The meeting saw comprehensive participation from the company's leadership team. The board members and key management personnel who attended the EGM included:

Special Business Agenda Items

The EGM addressed nine critical special business items that reflect the company's strategic growth initiatives and corporate restructuring plans:

• Increase in authorized share capital and consequent alteration of Memorandum of Association
• Issue of equity shares on preferential basis to non-promoters for consideration other than cash
• Issue of equity shares on preferential basis to non-promoters for consideration in cash
• Issue of convertible warrants on preferential basis to non-promoters
• Alteration of object clause of memorandum of association
• Increase in borrowing limits
• Power to create charge on company assets to secure borrowings pursuant to Section 180(1)(a) of the Companies Act, 2013
• Increase in limits for making investments, extending loans, and providing guarantees or securities
• Appointment of Mr. Sreeram Athota (DIN: 10432878) as Non-Executive, Independent Director

Voting Process and Compliance

The company implemented a comprehensive electronic voting system to ensure member participation. M/s. Nuren Lodaya and Associates, Practicing Company Secretaries, were appointed as scrutinizer to oversee the voting process. The company provided remote e-voting facilities prior to the meeting, and members who had not previously voted were given an additional fifteen-minute window for electronic voting after the meeting's conclusion.

No speaker shareholders attended the meeting, and since resolutions were put to vote through remote e-voting, there was no requirement for proposing, seconding, or voting by show of hands. The voting results and scrutinizer's report will be communicated to BSE Limited and published on the company's website in due course, ensuring full transparency and regulatory compliance.