The Board of directors of Styrenix Performance Materials Limited has approved the proposed acquisition by the company (through a step down subsidiary) of 100% shareholding of INEOS Styrolution (Thailand) Co., Limited (INEOS Thailand) from its existing shareholders, i.e. INEOS Styrolution Group GmbH. (INEOS Germany), INEOS Styrolution APAC Pte. Limited and INEOS Styrolution Hong Kong Company Limited, subject to completion of customary conditions precedent (Proposed Acquisition), in terms of a share sale and purchase agreement between the company and INEOS Germany (SPA). Pursuant to the Board's approval, the company has executed the SPA with INEOS Germany today i.e. on December 9, 2024.

The Board has also approved incorporation of a Step-Down Subsidiary in Thailand in which 99.99% shares will be held by Styrenix Performance Materials FZE, Dubai, a wholly owned subsidiary of the company.

The board has declared Interim Dividend for F.Y. 2024-25 of Rs. 31 (i.e. 310 %) per equity share of Rs. 10 each.