Binani Cement Ltd has informed BSE that pursuant to the powers given to the Investment Committee, Company has invested in 100% of the Capital of Mukundan Holdings Ltd, a
Company incorporated in the British Virgin Islands. Consequently Mukundan Holdings Ltd has become a wholly owned subsidiary of the Company.

Further consequent to the request received from Mukundan Holdings Ltd, the Finance Committee has approved the giving of a Corporate Guarantee for an amount of United States Dollars 85 Million against facilities granted to them by the lending institutions.