INEOS Styrolution APAC has ceased to be designated as the promoter of Styrenix Performance Materials Limited and Shiva Performance Materials is designated as the promoter of the company consequent to the approval of the reclassification application.

INEOS Styrolution, the global leader in styrenics, had entered into an agreement for the sale of its entire shareholding interest in INEOS Styrolution India to Shiva Performance Materials. Shiva Performance Materials has now acquired INEOS Styrolution’s 61.19% equity interest in INEOS Styrolution India.

According to post re-classification shareholding, Shiva Performance Materials Limited will hold 1,10,31,358 shares equivalent to 62.73% shareholding and public holding will hold 65,54,467 shares equivalent to 37.27% shareholding. As per Pre re-classification shareholding, INEOS Styrolution APAC Pte Ltd. had 10,761,178 shares equivalent to 61.19% shareholding and public holding of 68,24,447 equivalent to 38.81% shareholding.