Nimbus Projects Limited — Capital/Financing Update 2024

Jul 2, 2024

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NPL/BSE/2024-25/ 40 To, The Listing Department BSE Limited Phiroze Jeejeebhoy Tower Dalal Street Mumbai — 400001

July 02, 2024

Ref: Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Scrip Code: 511714 Scrip ID: NIMBSPROJ

Dear Sir,

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that on recommendation of Audit Committee, the Board of Directors in its meeting held today i.e Tuesday, July 02, 2024 has approved the request for early redemption of 0% Non-Participating Optionally Convertible Preference Shares held by the Company in World Resorts Limited (WRL), a related party.

The brief particulars of preference share to be redeemed are tabled below:

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a) Name of Holder of Investment Nimbus Projects Limited
Preference Share
b) Name of Company in which Preference World Resorts Limited, a Mumbai based
Shares held Company engaged in hospitality sector.
c) Category A Related Party Transaction, WRL being a
related party wherein Mr. Bipin Agarwal.
Managing Director is common director and
shareholder in both companies involved.
d) Number of Preference shares held 30,00,000 0% Non-Participating
Optionally Convertible Preference Shares
of Rs. 10/- each fully paid up.
e) Number of Preference shares requested 30,00,000
to be redeemed
g) Consideration of Proposed transaction Thirty Crores (Rs.30,00,00,000)
(In Rs.)
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h)	Other details	WRL can redeem these shares upon request of the Preference shareholders at the pre-determined prices as per following terms & conditions: 30,00,000 Zero Percent Non-Participating Optionally Convertible Preference Shares of Rs. 10 /- each held by the company in World Resorts Limited, the varied terms would be that the said investment upon redemption be carried out before the completion of the agreed terms of redemption at a redemption price of Rs. 100/- per preference shares which includes face value of Rs.10/- per share and premium of Rs. 90/- per share and no extra premium would be given on such early redemption.

You are requested you to please take the above information on record.

The Board Meeting commenced at 11:30 A.M. and concluded at 12:00 P.M.

Thanking you Yours faithfully,

For Nimbus Projects Limited

Digitally signed Ritika by Ritika Aggarwal Aggarwal Date: 2024.07.02 17:44:20 +05'30'

Ritika Aggarwal (Company Secretary & Compliance Officer) M.No.: A69712

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