Outcome of Board Meeting

(Formerly known as GyscoalAlloys Limited) Date: July 16, 2026 To, To, Bombay Stock Exchange Limited National Stock Exchange of India 1st Floor, New Trading Ring, Ltd., Rotunda Building, P. J. Tower, Exchange Plaza, C-1, Block G, Dalal Street, Mumbai – 400 001. Bandra Kurla Complex, Bandra (E), Mumbai – 400 051 Scripcode:533275 Company Symbol: SHAH Dear Sir/Madam, Subject: Submission of outcome of Board Meeting in compliance with the Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”). With reference to the above-mentioned subject, we wish to inform that, a meeting of the Board of Directors of the company at their today’s Meeting i.e. Thursday, July 16, 2026 has besides other matters, inter alia considered and approved the following: 1. The Board, based on the recommendation of the Nomination and Remuneration Committee, unanimously approved the following leadership realignment effective from July 20, 2026, as part of a evolution of the Company’s Board structure aligned with its next phase of growth and accordingly: a. The Board of Directors took note of the resignation of Mr. Viral Mukundbhai Shah from the position of Chief Executive Officer (CEO) of the Company, effective from July 20, 2026. A copy of his resignation letter is enclosed herewith. b. Concurrently, based on the recommendation of the Nomination and Remuneration Committee, the Board approved the appointment of Mr. Viral Mukundbhai Shah (DIN: 00014182) as an Additional Director, designated as an Executive Director, with effect from July 21, 2026. He will continue to serve on the Board in this new capacity, subject to the approval of the shareholders, and shall be liable to retire by rotation. c. Based on the recommendation of the Nomination and Remuneration Committee, the Board of Directors approved the appointment and change in designation of Mr. Mahendra Shukla (DIN: 09461897), presently serving as an Executive Director, to the position of Whole-time Director and Key Managerial Personnel (KMP) of the Company. This appointment is effective from July 21, (Formerly known as GyscoalAlloys Limited) 2026, for a period of 5 (five) consecutive years, and he shall be liable to retire by rotation, subject to the approval of the shareholders. d. Based on the recommendation of the Nomination and Remuneration Committee, the Board of Directors approved the appointment of Mr. Nanwal Sajjankumar (DIN: 01723254) as an Additional Director, designated as a Non- Executive, Independent Director of the Company. He is appointed for a first term of 5 (five) consecutive years effective from July 21, 2026, to hold office until July 20, 2031, subject to the approval of the shareholders. The details as required under the SEBI Listing Regulations read with the SEBI Master Circular No. HO/49/14/14(7)2025-CFDPOD2/I/3762/2026 dated January 30, 2026 as amended from time to time, is appended herewith as “Annexure‐ A” to this letter. 2. Approved Allotment of 1,00,00,000 (One Crore) equity shares pursuant to exercise of right attached to convertible warrants out of total issued 2,00,00,000 convertible warrants into equity shares to Ms. Mona Viral Shah- Promoter and Director at an issue price of Rs. 4.71 per share [Rs. 1/- face value + Rs. 3.71/- premium per share] on June 28, 2025. The Company has received conversion request letter from Ms. Mona Shah for allotment of 1,00,00,000 equity shares. Accordingly, the Company has allotted 1,00,00,000 (One Crore) equity shares of Rs. 1/- each to the Ms. Mona Viral Shah - Promoter and Director upon conversion of warrant. Further, the Warrant Holders have paid the balance of the consideration aggregating to Rs. 3,53,25,000/- Accordingly, pursuant to the Allotment, the paid-up equity share capital of the Company has increased from ₹98,23,74,228/- comprising of 98,23,74,228 fully paid-up equity shares to ₹ 99,23,74,228/- comprising of 99,23,74,228 fully paid- up equity shares. The allotment of the equity shares shall be made in dematerialized form and the equity shares so allotted shall rank pari passu with the existing Equity Shares of the Company in all respects. The requisite details for the aforesaid in terms of Regulation 30 read with Schedule III of the Listing Regulations and SEBI Master Circular no. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, are enclosed as “Annexure‐B”. 3. Further, pursuant to Regulation 30(5) of the SEBI Listing Regulations, we wish to inform you that following persons of the Company are authorised for the purpose of determining materiality of events or information and making disclosures to the Stock Exchange(s) with effect from July 21, 2026: (Formerly known as GyscoalAlloys Limited) Mr. Viral Shah -Executive Director E mail: Md@shahgroupco.com Phone : 079 66614508 Ms. Mona Shah - Chairman and Executive Director Email: info@shahgroupco.com Phone: 079 66615727 Chief Financial Officer Email: cfo@ shahgroupco.com Phone: 079 66614508 Company Secretary Email: cs@ shahgroupco.com Phone: 079 66614508 Accordingly, Policy for determination of Materiality of Events and Information amended. 4. Reconstitution of Audit committee, Nomination and remuneration committee, Stakeholders Relationship Committee, Committee of Directors. 5. Approved amendment in Related Party Transaction Policy. 6. Approved the draft notice of Postal Ballot to seek approval of Shareholders and same will be sent to Shareholders and will be filed with Stock Exchanges in due course. 7. Appointment of Scrutinizer and fixed the date for postal ballot. The meeting of the Board commenced at 05:30 p.m. and concluded at 07:30 p.m. The above information is available on the website of the Company www.shahmetacorp.com. You are requested to take the same on your record. Thanking You, Yours faithfully, For Shah Metacorp Limited Hiral Patel Company Secretary (Formerly known as GyscoalAlloys Limited) Annexure‐A Disclosure of information pursuant to regulation 30 of SEBI LODR Regulations read with SEBI's circular No. HO/49/14/14(7)2025‐CFD‐POD2/I/3762/2026 dated January 30, 2026: Disclosure of Mr. Viral Mukund Shah (DIN: 00014182): Particulars Details for Resignation of Mr. Viral Shah from the Position of CEO Particulars regarding the change Resignation of Mr. Viral Shah from the position of Chief Executive Officer (CEO) of the Company w.e.f. July 20, 2026. Reason for change viz. appointment, As stated in the attached resignation letter resignation, removal, death or otherwise; Date of appointment/cessation (as effective from July 20, 2026. applicable) & term of appointment Brief profile (in case of NA appointment) Disclosure of relationships between NA directors (in case of appointment of a director). Particulars Details for Appointment of Mr. Viral Shah (DIN: 00014182) Reason for change viz. appointment, Appointment of Mr. Viral Shah (DIN: 00014182) as resignation, removal, death or an Additional Director (Executive Director) of the otherwise; Company w.e.f. July 21, 2026 subject to approval of shareholders. Date of appointment/cessation (as Mr. Shah has been appointed as Additional Director applicable) & term of appointment/ (Executive Director), liable to retire by rotation on /reappointment; the Board of the Company W.e.f. July 21, 2026 subject to the approval of the shareholders. Brief profile (in case of Mr. Viral Mukundbhai Shah is a dynamic business appointment) leader with over a decade of extensive experience in the steel and alloys industry. Having commenced his professional journey in the trading sector of the industry, he has gained profound domain knowledge, market insights, and operational expertise across the entire value chain. (Formerly known as GyscoalAlloys Limited) Presently, Mr. Shah competently oversees the strategic management and core operations of Shah Metacorp Limited. In his executive capacity, he actively manages the company’s current business portfolio, optimizes the manufacturing processes o [Showing first 8,000 characters — download PDF for full document]