Disclosure of material issue

MITCON's subsidiary, MSPL, is partially divesting its stake in its own wholly-owned subsidiary, MITCON Impact Asset Management Private Limited (MIAMPL). This means MIAMPL will no longer be a wholly-owned subsidiary, with MSPL's stake reducing from 100% to 51%. New investors, Mr. Suresh Goyal (26%) and Vaultustech India Private Limited (23%), are acquiring these shares for a total consideration of Rs 49,000. MIAMPL's current financial footprint is small, contributing Rs 28.10 lakh to consolidated turnover and Rs 8.51 lakh to consolidated net worth.

MITCON believes this strategic move, bringing in new associates, will boost MIAMPL's business operations.