Magellanic Cloud Ltd.

Magellanic Cloud has informed that Meeting of the Board of Directors of the Company held today, Thursday, March 02, 2023, at 02.00 pm for which intimation was already given: Approved and taken on record that the company has identified a body corporate which is into drone manufacturing business for the acquisition and that the company had formed a committee which is conducting due diligence of the Target Company. The Board Meeting commenced today at 02:00 pm and concluded at 02.30 pm.

The above information is a part of company’s filings submitted to BSE.