Avalon Technologies Limited informed that the members of the Company have approved the appointment of Mr. Anees Ahmed (DIN: 00225648) as an Independent Director of the Company with effect from October 24, 2024 for a period of five consecutive years, by way of special resolution through Postal Ballot (remote e-voting process). The Postal Ballot remote e-voting ended at 5.00 p.m. on November 29, 2024 and the results of the same were declared on November 30, 2024. Mr. Anees Ahmed is a successful entrepreneur with a proven track record in the technology business domain.

He founded Mistral Solutions Pvt. Ltd. in 1997 with an initial capital of INR 5 Lakhs and grew it to over INR 4 billion and expanded to a team of more than 600 employees. He played a pivotal role in establishing Mistral as a leader in the Indian defense electronics market and in global Product Engineering Services.

His responsibilities encompassed strategy, business development, sales, and operations across India and the USA. Throughout the years, he successfully raised multiple rounds of venture capital from global funds. The Board believes his appointment may enhance the Board's decision-making process and strengthen the company's overall governance framework.