NB Footwear Limited has made important announcements regarding its Board of Directors, following the successful completion of the open offer made by Mr. Nitin Minocha (Acquirer-1) and Copo Holdings Private Limited (Acquirer-2), under the SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011.

On December 26, 2024, during a board meeting, the company made significant changes, which include both appointments and resignations.

Appointments of New Directors

1. Mr. Nitin Minocha (DIN: 07705015) has been appointed as an Additional Director in the category of Promoter, Executive Director. This move comes after the completion of the open offer process and reflects the new leadership direction under the promoters. Mr. Minocha holds extensive expertise in corporate finance and governance, with over 28 years of experience in the industry.

2. Mr. Ratish Tagde (DIN: 00024465) has been appointed as an Additional Director in the Non-Executive, Independent Director category. Mr. Tagde brings a wealth of experience in corporate secretarial functions, having worked for over 30 years in various corporate governance roles.

Resignations from Directors

The following directors have resigned effective December 26, 2024 due to personal reasons:

• Mr. Kannan A Yadav (DIN: 00249225) resigned from the position of Director and Managing Director.
• Mrs. Krishnaveni K Yadav (DIN: 00249260) resigned from the position of Director.
• Mr. Subramanian Krishnan (DIN: 00583985) resigned from the position of Director and ceased to be Executive Director.

Implications for Corporate Governance

These changes mark a strategic shift in the company's leadership following the open offer, with Mr. Nitin Minocha and Mr. Ratish Tagde bringing their extensive expertise to the Board of Directors. The appointments are aimed at strengthening corporate governance and ensuring continued growth in the competitive footwear industry.

The company has disclosed these changes as per the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Master Circular dated July 13, 2023, relating to board and management changes. The appointed directors will serve for a period of five years, subject to shareholder approval.

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