Announcements

Appointment of Mr. Suniti Kumar Bhat (DIN: 08237399) as an Additional Director and Managing Director of the Company.

Mr. Suniti Kumar Bhat is the Founder and Director of Antelopus Energy Private Limited, an India-focused energy Company. Mr. Bhat served as the Chief Operating Officer and Member- Executive Committee at Cairn Oil & Gas. He has extensive experience in exploration, development and production operations of all assets and has successfully led the implementation of the world’s largest polymer flooding project at the Mangala Field.

In his more than 25 years of experience in the global Oil & Gas Industry, he has had successfully stints in Reservoir Management and Production Optimization with operators including BG and Centrica in UK & Central Asia. He has completed a General Management Program from Harvard Business School, Masters in Petroleum Engineering from Stanford University and has a BE (Hons.) in Chemical Engineering from Punjab University Chandigarh.

Appointment of Ms. Yogita Rohilla as a Company Secretary and Compliance Officer of the Company with effect from 01 July 2022.

The Company is pleased to announce the appointment of Ms. Yogita Rohilla as the Company Secretary & Compliance Officer of the Company. Ms. Rohilla is a member of The Institute of Company Secretaries of India (ICSI) besides holding the membership of the Institute she is also a Law graduate from the Rajasthan University.

Resignation of Mrs. Deepa Bhalla from the post of Company Secretary of the Company with effect from the end of business hours on 30 June 2022.

Mrs. Deepa Bhalla, (Company Secretary) has informed the Company of her inability to continue as Company Secretary of the Company and her intention to resign as Company Secretary of the Company due to her pre-occupation and other personal reasons pursuant to her letter dated 30 June 2022. She has also informed the Company in her said letter that there are no other reasons than what is stated therein for her resignation as Company Secretary of the Company.

Resignation of Mr. Vijay Kirpal from the post of Chief Financial Officer (CFO) of the Company with effect from the end of business hours on 30 June 2022.

Mr. Vijay Kirpal, (Chief Financial Officer) has informed the Company of her inability to continue as CFO of the Company and her intention to resign as CFO of the Company due to her pre-occupation and other personal reasons pursuant to his letter dated 30 June 2022. He has also informed the Company in her said letter that there is no other reason than what is stated therein for her resignation as Company Secretary of the Company.

Resignation of Mr. Derek James Corbishley (DIN: 06515723) from the post of Non-Executive Independent Director of the Company with effect from 30 June 2022.

Mr. Derek James Corbishley, (Non-Executive Independent Director) has informed the Company of his inability to continue as Non-Executive Independent Director of the Company and his intention to resign as Non-Executive Independent Director from the Board of the Company due to his pre-occupation and other personal reasons pursuant to his letter dated 30 June 2022. He has also informed the Company in his said letter that there is no other reason than what is stated therein for his resignation as Non-Executive Independent Director of the Company.

Accordingly, the Board of Directors at their meeting held today have accepted his resignation as a Non-Executive Independent Director of the Company with immediate effect.

Resignation of Mrs. Sonali Bhagwati Dalal (DIN :01105028) from the post of Non-Executive Woman Independent Director of the Company with effect from 30 June 2022.

Mrs. Sonali Bhagwati Dalal, (Non-Executive Woman Director) has informed the Company of her inability to continue as Non-Executive Woman Director of the Company and her intention to resign as Non-Executive Woman Director from the Board of the Company due to her pre-occupation and other personal reasons pursuant to her letter dated 30 June 2022. She has also informed the Company in her said letter that there is no other reason than what is stated therein for her resignation as Non-Executive Woman Director of the Company.

Accordingly, the Board of Directors at their meeting held today have accepted her resignation as a Non-Executive Woman Director of the Company with immediate effect.

Resignation of Mr. Tarik Currimbhoy (DIN: 00729714) from the post of Non-Executive Independent Director of the Company with effect from 30 June 2022.

Mr. Tarik Currimbhoy, (Non-Executive Independent Director) has informed the Company of his inability to continue as Non-Executive Independent Director of the Company and his intention to resign as Non-Executive Independent Director of the Board of the Company due to his pre-occupation and other personal reasons pursuant to his letter dated 30 June 2022. He has also informed the Company in his said letter that there is no other reason than what is stated therein for his resignation as Non-Executive Independent Director of the Company.

Accordingly, the Board of Directors at their meeting held today have accepted his resignation as a Non-Executive Independent Director of the Company with immediate effect.

Resignation of Mr. Rohit Kapur (DIN: 00017172) from the post of Whole-Time Director with effect from 30 June 2022.

This is to inform you that Mr. Rohit Kapur, Whole-Time Director has informed the Company of his inability to continue as Whole-Time Director of the Company and his intention to resign as Whole-Time Director from the Board of the Company. This is pursuant to the Share Purchase Agreement dated 17 March 2022 and pursuant to his letter dated 30 June 2022. He has also informed the Company in the said letter that there are no other reasons than what is stated therein for his resignation as a Whole-Time Director of the Company.

Accordingly, the Board of Directors at their meeting held today have accepted his resignation as a whole-Time Director of the Company with effect from 30 June 2022.

Intimation of Change in Control of the Company

As a result of the completion of the sale and purchase of equity shares pursuant to the share purchase agreement dated 17 March 2022 (“SPA”), 21 % Shares of the Paid-up Share Capital of the Company are transferred from one of the existing promoters i.e., Winton Roavic LLP to the new promoter i.e., Blackbuck Energy Investments Limited (“BEIL”).

Consequently, there is change of control, BEIL is the new promoter of the Company and the old promoters cease to be the promoters of the Company subject to the approval of the stock exchanges as prescribed under Regulation 31A of the Securities and Exchange Board of lndia (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The shareholding of BEIL post the acquisition under the SP A and Open Offer is 46,30,570 (Forty Six Lakhs Thirty Thousand Five Hundred and Seventy Only) equity shares representing 30.46 % of the paid-up share capital of the Company.

Pursuant to the SEBI (Prohibition of Insider Trading) Regulations, 2015 we wish to inform you that the Trading Window of the Company will remain closed from 01 July 2022 till 48 hours after the declaration of Unaudited Financial Results of the Company for the quarter ending 30 June 2022.