IP Rings Ltd

🔔 IP Rings Ltd & Nippon Piston Rings End Long-Term Collaboration Agreement

- IP Rings Ltd (IPR) and Nippon Piston Rings Co. Ltd (NPR) have mutually agreed not to renew their Share Subscription and Business Collaboration Agreement, originally signed on December 11, 1995.

- The termination follows NPR's corporate reorganization in Japan after its merger with RIKEN.

- NPR has been a technical collaborator with IPR since 1991; the Technical Assistance Agreement is also terminated.

- IPR will continue to use existing NPR technologies without any royalty obligations.

- NPR will provide ongoing support for new technologies, including PVD coating and advanced oil ring technologies.

- NPR holds 704,200 equity shares in IPR, representing 5.56% of the total share capital.

- The non-renewal agreement was executed on April 28, 2026.