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Mastek Limited — Board/Management Information 2021
Jan 8, 2021
62169_rns_2021-01-08_4b708e4c-a42e-44b8-98ac-4fd5f0486fdc.pdf
Board/Management Information
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Mastek Limited T +91 22 6722 4200
Mumbai 400096, Maharashtra, India W www.mastek.com
SEC/90/2020-21 January 8, 2021
| Listing Department | Listing Department |
|---|---|
| BSE Limited | The National Stock Exchange of India Limited |
| 25thFloor, Phiroze Jeejeebhoy Towers | Exchange Plaza, C-1, Block G, |
| Dalal Street, Fort, Mumbai-400 001 | Bandra Kurla Complex, Bandra (E), Mumbai – 400 051 |
| Tel No. 022- 22723121, Fax No. 022- 22721919 | Tel No.: 022- 26598100, Fax No. 022-26598120 |
| SCRIP CODE: 523704 | SYMBOL: MASTEK |
– - Subject: Outcome of the proceedings of Board Meeting held today January 8, 2021 SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations")
Dear Sir(s)/Ma'am(s),
We wish to inform you that the Board of Directors at their meeting held today – January 8, 2021 through video conferencing, resolved not to invest further by way of subscription money to convert the outstanding 80,00,000 Convertible Equity Warrants of Rs. 10 each ("Equity Warrants”), issued by Cashless Technologies India Private Limited (CTIPL), into equivalent Equity Shares of CTIPL. This decision was taken based on the recommendation of the Audit Committee subsequent to a request made by CTIPL seeking Company’s decision to convert the Equity Warrants to fulfill CTIPL’s investment needs. Company believes that the business of CTIPL is non-core to the business of the Company and hence decided to surrender the Equity Warrants for cancellation.
It may be noted that in July 2016, Company had subscribed to the above mentioned Equity Warrants with an initial contribution of Rs. 80,000 with an option to convert into equivalent equity shares of CTIPL at the sole option of the Company.
The meeting of the Board of Directors of the Company commenced at 6.40 p.m. and concluded at 7.25 p.m.
Yours Truly,
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Regd. Off.: 804, 805 President House, Opp. C.N. Vidyalaya, Near Ambawadi Circle, Ambawadi, Ahmedabad - 380 006. Gujarat, India. Tel No: +91-79-2656--4337 E-mail: [email protected] CIN-l74140GJ1982PLC005215