Asgard Alcobev Ltd

Dear Sir / MadamThis is with reference to the captioned subject and in furtherance of intimation received from Mr. Vasantrai Ratilal Mehta (Acquirer) dated 24.02.2023 regarding the proposed purchase of 64350 equity shares of the Company by the Acquirer pursuant to the Share Purchase Agreements dated 29th September 2022 entered between the parties (SPA).In this regard we have been informed that since 20% of the purchase consideration at the time of signing of the SPA and balance on completion of the offer period in terms of Article 3.2 of the SPA was not paid the parties have mutually terminated the SPA vide Deed of Termination dated 23rd February 2023. Accordingly the said acquisition of 64350 equity shares of the Company shall not be undertaken.This letter is being issued by the Company pursuant to and in compliance with Regulation 30 of the Listing Regulations. Kindly take this information on record.