Key Highlights

• Mold-Tech Singapore secured the remaining 9.90% of Narayan’s capital stock after the closing.

• The transaction valued the 9.90% minority interest at about $64,000,000 in cash.

• Mold-Tech Singapore now holds 100% of Narayan, terminating the earlier shareholders’ agreement.

Standex International Corp. (NYSE: SXI) announced that a cash transaction has been completed, giving Mold-Tech Singapore full ownership of Narayan. The deal resolves an earlier share‑swap arrangement that required Reserve Bank of India (RBI) clearance, which was not obtained by October 28, 2025.

Background of the Share‑Swap Initiative

Originally, Standex and Mold-Tech Singapore planned to acquire the remaining 9.90% of Narayan through a share‑swap that depended on RBI approval. The shareholders’ agreement provided that if the regulatory consent was not secured by the October 28, 2025 deadline, the 9.90% stake would be subject to put and call options based on market valuation or a formula linked to Narayan’s adjusted EBITDA.

Outcome of the Regulatory Review

Because the RBI did not grant the required approval within the specified timeframe, the option triggers became effective for the 9.90% ownership slice, opening the possibility of alternative transaction structures.

Negotiated Cash Purchase

Instead of exercising the option rights, Standex, acting through Mold-Tech Singapore, entered into negotiations with the Narayan minority shareholders. The parties agreed that Mold-Tech Singapore would purchase the remaining 9.90% for an aggregate cash consideration of approximately $64,000,000. This agreement was signed in late June, with the closing slated for early July.

Completion and Ownership Transfer

The agreement stipulated that, upon closing, Mold-Tech Singapore would own 100% of Narayan, as reflected in the Second Narayan Transaction, Mold-Tech Singapore now owns 100%. The settlement also automatically terminated the shareholders’ agreement, without incurring any early‑termination penalties for Standex or its affiliate.

Implications for Standex and Narayan

The acquisition eliminates the last minority interest in Narayan’s equity structure, consolidating ownership under Mold-Tech Singapore. This simplifies governance, aligns strategic direction, and removes the need for future regulatory approvals tied to the original share‑swap concept. For Standex, the transaction clears a pending obligation and allows the company to focus on its core industrial product lines, including engineered components and specialty equipment.

Industry Context

Mergers and acquisitions in the engineered manufacturing sector often involve intricate cross‑border regulatory considerations. The ability to close a cash deal without waiting for foreign‑exchange or central‑bank approvals demonstrates flexibility that can be critical in fast‑moving markets. Standex’s move mirrors broader trends where companies prefer outright purchases to avoid prolonged uncertainty associated with share‑swap mechanisms.

Disclosure Note

The filing includes forward‑looking statements. Investors should review Standex’s public disclosures for a full description of material risks.

This article is for informational purposes only and does not constitute financial advice. Please consult a licensed financial adviser before making investment decisions.