We hereby inform you that the Board of Directors of the Company, at its meeting held today i.e. on 29th October, 2021, have given in-principle approval for winding up/otherwise closing down Excel Crop Care (Europe) N.V., Belgium, a subsidiary of the Company.<BR> <BR> Excel Crop Care (Europe) N.V. is an unlisted 'non-material' subsidiary in which the Company holds 99% of the equity share capital.<BR> <BR> Excel Crop Care (Europe) N.V. has not been having sales turnover/profits and commercial activities for past several years. The subsidiary has no material financial liability on its balance sheet and has positive net worth.<BR> <BR> The proposed winding up/closure of Excel Crop Care (Europe) N.V. is not likely to impact the business, commercial activities, financial position and financial statements of the Company/group in any material manner.<BR> <BR> We will inform you once the winding up/closure process for Excel Crop Care (Europe) N.V. is complete.
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