The Board of Directors of Samurai 2K Aerosol Limited announced that the Company has incorporated a wholly-owned subsidiary (the Subsidiary) in India on 3 December 2021. The details of the Subsidiary are as follows: Name of company: Samurai 2K India Private Limited; Date of incorporation: 3 December 2021; Country of incorporation: India; Issued and paid-up capital: INR 5,000,000 comprising 500,000 ordinary shares of INR 10 (Rupess Ten) each; Principal activities: To buy, sell, import, export in wholesale and to deal in paints (including varnishes and related supplies); Financial impact: The incorporation of the Subsidiary is funded through internal resources and is not expected to have any material impact on the net tangible assets and earnings per share of the Company for the financial year ending 31 March 2022. Interests of Directors and controlling shareholders: None of the Directors, controlling shareholders or substantial shareholder of the Company has any interest, direct or indirect, in the incorporation of the Subsidiary, save for their respective shareholdings in the Company.