Cranex Ltd. — Capital/Financing Update 2024

Sep 3, 2024

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Date: 3[rd] September, 2024

To, The Secretary Corporate Relationship Department BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai-400001

Ref. Scrip Code: 522001 ISIN: INE608B01010

Dear Sir/Madam,

SUB: OUTCOME OF THE MEETING OF BOARD OF DIRECTORS HELD ON TUESDAY, SEPTEMBER 3[RD] , 2024

With reference to the captioned subject, pursuant to the Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 please find attached herewith Outcome of the meeting of Board of Directors of the Company held today i.e. Tuesday, September 3[rd] 2024.

Kindly take the same on your record.

Thanking You

For Cranex Limited

HEENA Digitally signed by HEENA SHARMA SHARMA Date: 2024.09.03 12:57:56 +05'30'

Heena Sharma Company Secretary and Compliance Officer Membership No.: A65512

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Date: 3[rd] September, 2024

To, The Secretary Corporate Relationship Department BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai-400 001

Ref. Scrip Code: 522001 ISIN: INE608B01010

Dear Sir/Madam,

Sub: Outcome of Board Meeting under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”).

Ref: Board meeting intimation dated August 29[th] , 2024

This is to inform that the Board of Directors of Cranex Limited (“the Company”) at its meeting held today i.e., Tuesday, 3[rd] September, 2024, has inter-alia, approved:

1. Appointment of Ms. Priyanka Pathak (DIN: 10601570), as an Additional Director in the category of NonExecutive Independent Director of the Company.

2. Regularization of Ms. Priyanka Pathak (DIN: 10601570), as Director and Independent Director of the Company for a term of five consecutive years.

3. To increase remuneration of Mr. Piyush Agrawal, Managing Director of the Company.

4. To increase remuneration of Mr. Chaitanya Agrawal, Whole Time Director of the Company.

5. Issuance of upto 27,80,000 share warrants convertible into equal number of equity shares on preferential basis (“preferential Issue”) to the person belonging to promoters/promoter group and non-promoters group subject to the approval of shareholders, in accordance with the Companies Act, 2013 read with the rules made there under and Chapter V of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 ("SEBI ICDR Regulations") read with other applicable regulations, if any at a price of ₹102/- (Rupees One Hundred and Two Only) per Equity Share, subject to the approval of regulatory/ statutory authorities and the shareholders of the Company at the ensuing Annual General Meeting (AGM) and other regulatory authorities, as may be applicable.

The details as required under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 09, 2015 and SEBI circular no. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, are given in Annexure A to this letter.

The meeting of Board of directors was commenced at 11:00 A.M. and concluded at 12:45 P.M.

Kindly take the same on record and acknowledge the receipt.

Thanking you. Yours faithfully, For Cranex Limited

HEENA Digitally signed by HEENA SHARMA SHARMA Date: 2024.09.03 12:58:43 +05'30'

Heena Sharma Company Secretary and Compliance Officer Membership No.: A65512

Encl: as above

Annexure – A

The details as required under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. CIR/CFD/CMD/ 4/2015 dated September 09, 2015 and SEBI circular no. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, are given as below:

S. No.	Particulars	Details	Details	Details
1.	Type of securities proposed to be issued (viz. equity shares, convertibles, etc.	Issue of upto 27,80,000 Warrants (“Warrants”) which shall be converted into equal number of equity shares of ₹10/- each on Preferential basis to the proposed Promoters/Promoter Group and Non Promoters Group(Investors).
2.	Type of issuance (further public offering, rights issue, depository receipts (ADR/GDR), qualified institutions placement, preferential allotment etc.)	Preferential Issue of warrants in accordance with the SEBI(ICDR) Regulations, 2018 read with the Companies Act, 2013 and rules made there.
3.	Total number of securities proposed to be issued or the total amount for which the securities will be issued (approximately)	Issue of upto 27,80,000 Warrants, each convertible into, or exchangeable for One fully paid up equity share of the Company of face value of ₹10/- each at a price of ₹102/- each payable in cash (“Warrant Issue Price”), aggregating up to ₹28,35,60,000/-(“Total Issue Size”)
4.	Additional Information in case of preferential additional details to the stock exchange(s):			issue the listed entity shall disclose the following
i.	Names of the Investors			Name of the Investors Piyush Agrawal Chaitanya Agrawal Amitabh Agrawal Ritu Investments Private Limited Securocrop Securities India Private Limited Gaurav Singh Bhavya Jain Saket Agarwal Doshi Sagar Hareshkumar Parth Shah Niveshaay Hedgehogs LLP Sangeeta Pareekh Vidhi Bansal Gupta Vivek Sawhney Priti Mehul Gandhi
			Sr. No.	Name of the Investors
			1.	Piyush Agrawal
			2.	Chaitanya Agrawal
			3.	Amitabh Agrawal
			4.	Ritu Investments Private Limited
			5.	Securocrop Securities India Private Limited
			6.	Gaurav Singh
			7.	Bhavya Jain
			8.	Saket Agarwal
			9.	Doshi Sagar Hareshkumar
			10.	Parth Shah
			11.	Niveshaay Hedgehogs LLP
			12.	Sangeeta Pareekh
			13.	Vidhi Bansal Gupta
			14.	Vivek Sawhney
			15.	Priti Mehul Gandhi

1. Amit Kumar 17. Rimjhim Goenka 18. Urban Botanics Private Limited 19. Ashish Kila

ii. Post allotment of securities - outcome of the subscription

The Warrants convertible into equity shares are proposed to be allotted to promoters/promoter group and non- promoters’ group of the Company.

Details of shareholding in the Company, prior to and after the proposed Preferential Issue, are as under:

	Name of	Pre-Preferential	Pre-Preferential	Post Preferential	Post Preferential	Post Preferential	Post Preferential
	Investors
		Shares	%		Shares	%
	Piyush	21,43,000	35.72%		25,93,000		29.53%
	Agrawal
	Chaitanya	1,90,000	3.17%		5,90,000		6.72%
	Agrawal
	Amitabh	0	0.00%		3,00,000		3.42%
	Agrawal
	Ritu	0	0.00%		1,00,000		1.14%
	Investments
	Private
	Limited
	Securocrop	0	0.00%		4,00,000		4.56%
	Securities
	India Private
	Limited
	Gaurav Singh	0	0.00%		2,10,000		2.39%
	Bhavya Jain	0	0.00%		2,05,000		2.33%
	Saket Agarwal	0	0.00%		1,50,000		1.71%
	Doshi Sagar	0	0.00%		1,00,000		1.14%
	Hareshkumar
	Parth Shah	0	0.00%		1,00,000		1.14%
	Niveshaay	0	0.00%		1,00,000		1.14%
	Hedgehogs
	LLP
	Sangeeta	0	0.00%		90,000		1.03%
	Pareekh
	Vidhi Bansal	0	0.00%		50,000		0.57%
	Gupta
	Vivek	0	0.00%		40,000		0.46%
	Sawhney

			Priti Mehul Gandhi	0	0.00%	35,000	0.40%
			Amit Kumar	0	0.00%	20,000	0.23%
			Rimjhim Goenka	0	0.00%	10,000	0.11%
			Urban Botanics Private Limited	0	0.00%	10,000	0.11%
			Ashish Kila	0	0.00%	10,000	0.11%
iii.	Issueprice		₹102/- (Rupees One Hundred		and Two Only)
iv.	Number of investors		19 (Nineteen) Investors
v.	In case of convertibles - intimation on conversion of securities or on lapse of the tenure of the instrument		Each of the Warrant is exchangeable into Equity Share having face value of ₹10/- (Rupees Ten Only) each. The tenor of the Warrants is 18 months from the date of their allotment. The Warrants shall be convertible in one or more tranches.