SRIVARU (SVMH) announces extraordinary general meeting of shareholders

GRAND CAYMAN, Cayman Islands and COIMBATORE, India, June 12, 2024 (GLOBE NEWSWIRE) — SRIVARU Holding Limited (Nasdaq: SVMH; SVMHW) (“SRIVARU” or the “Company”), a provider of premium electric motorcycles, has announced today that it will hold an Extraordinary General Meeting of shareholders on June 27, 2024 (the “Meeting”). The registration date for voting at the Meeting has been set by the Board of Directors as June 3, 2024. SRIVARU has published a notice and proxy statement regarding the Meeting, a proxy card and related materials on its website at www.svmh.ai. /events/agm-egm/.

About SRIVARU Holding Ltd.

SRIVARU is the parent company of SRIVARU Motor Private Ltd., a leading supplier of premium electric motorcycles in India. SRIVARU was founded on the realization that although the rider-motorcycle relationship is deep and complex, it is in desperate need of innovation for the next generation of riders. SRIVARU offers affordable premium two-wheeled electric vehicles (“E2W”) that deliver an exceptional driving experience with 3-channel redundant automated braking, a low center of gravity to improve stability, enhanced safety features and a easy charging compatible with household charging sockets. The company owns a wide range of intellectual properties, including a patent-pending chassis and driving acceleration system. Additionally, SRIVARU offers its customers a higher total cost of ownership than traditional internal combustion engine motorcycles and competitive E2W vehicles. Additional information about the company is available at: http://www.srivarumotors.com/.

Forward-looking statements

This communication may contain a number of “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements include information regarding SRIVARU’s possible or assumed future results of operations, business strategies, debt levels, competitive position, industry environment, potential growth opportunities and the effects of regulation, including whether the company will generate shareholder returns. These forward-looking statements are based on the current expectations, estimates, projections and beliefs of SRIVARU’s management, as well as a number of assumptions regarding future events. When used in this communication, the words “estimates”, “projects”, “expects”, “anticipates”, “forecasts”, “plans”, “intends”, “believes”, “seeks”, “may”, “will”, “should”, “future”, “propose” and variations of these words or similar expressions (or the negative versions of these words or expressions) are intended to identify forward-looking statements . These forward-looking statements are not guarantees of future performance, conditions or results and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company. management of SRIVARU, which could cause actual results to differ. materially from the results discussed in the forward-looking statements. These risks, uncertainties, assumptions and other important factors include, but are not limited to: (a) the outcome of any legal proceedings that may be brought against SRIVARU or others; (b) SRIVARU’s ability to continue to comply with Nasdaq listing standards; (c) SRIVARU’s ability to grow and manage its growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (d) changes in applicable laws or regulations; (e) consumer willingness to adopt electric vehicles and electric motorcycles in particular; (f) the possibility that SRIVARU may be adversely affected by other economic, business and/or competitive factors, geopolitical conflicts, the effects of inflation and potential recessionary conditions; (g) SRIVARU’s execution of planned operational efficiency initiatives, including low-cost manufacturing and distribution, and financing arrangements; and (h) other risks and uncertainties set forth from time to time under “Risk Factors” in documents filed or to be filed with the SEC by SRIVARU. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to place undue reliance on any forward-looking statements, and SRIVARU undertakes no obligation and, except as required by law, does not intend to update or revise any such forward-looking statements, whether either as a result of new information or future events. , or otherwise. SRIVARU makes no guarantee that it will achieve its expectations.

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