Camlin Fine Sciences has successfully increased its ownership stake in Vinpai to 83.82% through the conversion of convertible bonds into equity shares. This strategic corporate action represents a significant step in strengthening the company's position within its subsidiary operations.

Strategic Ownership Enhancement

The conversion process has resulted in Camlin Fine Sciences achieving a substantial majority stake in Vinpai, moving from its previous ownership level to 83.82%. This increase demonstrates the company's commitment to consolidating its control over the subsidiary's operations and strategic direction.

Corporate Action Details

The ownership increase was achieved through the conversion of convertible bonds held by Camlin Fine Sciences into equity shares of Vinpai. This financial restructuring allows the parent company to enhance its equity participation while potentially optimizing its investment structure in the subsidiary.

Strategic Implications

With the increased ownership stake of 83.82%, Camlin Fine Sciences now holds a commanding position in Vinpai's governance and operational decisions. This enhanced control enables better alignment of strategic objectives between the parent company and its subsidiary, potentially leading to improved operational synergies and business coordination.

Camlin Fine Sciences Limited has strengthened its position in French ingredient technology company Vinpai by converting EUR 33,00,000 worth of convertible bonds into equity shares. The conversion, completed on January 9, 2026, has increased the company's shareholding in Vinpai from 78.68% to 83.82%.

Bond Conversion Details

The conversion involved 3,300 convertible bonds that matured on December 31, 2025. These bonds were converted into 11,00,000 new ordinary shares of Vinpai at a conversion price of EUR 3.00 per share.

The new shares were credited to Camlin Fine Sciences' demat account held with Financière d'Uzès, Paris, and will be subsequently listed on Euronext Growth Paris.

Updated Shareholding Position

Following this conversion, Camlin Fine Sciences now holds a total of 38,23,316 ordinary shares in Vinpai, representing 83.82% of the French company's outstanding share capital. This marks an increase from the previous holding of 27,23,316 shares (78.68%) acquired through earlier share swap arrangements.

About Vinpai

Vinpai is a French société anonyme specializing in ingredient technology, focusing on the design, manufacture, and marketing of algae, plant, mineral, and fiber-based functional ingredients. The company provides natural alternatives to chemical additives for manufacturers in the food, cosmetics, and nutraceutical industries.

Operating from two sites in Saint-Dolay (Morbihan) and near the port of Saint-Nazaire, Vinpai has developed over 3,500 formulas and employs 43 people. The company has been listed on Euronext Growth Paris since its IPO on July 19, 2023.

Financial Performance

Vinpai has demonstrated consistent revenue growth over the past three years:

The company reported a loss of EUR 3.40 million after tax for the financial year 2023, despite generating EUR 7.90 million in turnover.

Strategic Implications

This conversion represents the completion of the convertible bond agreement executed between Camlin Fine Sciences and Vinpai. The transaction does not fall within related party transactions, and no governmental or regulatory approvals were required for the conversion. The increased stake solidifies Camlin Fine Sciences' control over Vinpai's operations in the ingredient technology sector, particularly in natural alternatives to chemical additives across food, cosmetics, and medical industries.