Onward Technologies Ltd. — Proxy Solicitation & Information Statement 2021

Jun 21, 2021

Date: June 04, 2021

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To,

BSE Ltd. P. J. Towers, Dalal Street, Mumbai - 400 001	National Stock Exchange of India Ltd. ‘Exchange Plaza’, C-1, Block G Bandra Kurla Complex Bandra(E),Mumbai 400 051
Scrip Code:- 517536	Scrip Symbol :- ONWARDTEC

Subject: Corrigendum to The Notice of Extra Ordinary General Meeting Dated May 27, 2021

Dear Sir/Madam,

Further to our Notice of EGM dated May 27, 2021, we attach herewith a corrigendum to the Notice of Extra Ordinary General Meeting (“EGM”) which is self‐explanatory. You are requested to take the above information on your records.

The Company has, today, completed dispatch of the corrigendum to the Notice of EGM, by electronic means, to all shareholders whose email IDs are registered with the Company/Depositories. The corrigendum to the Notice of EGM will also be available on the Company’s website at www.onwardgroup.com.

The requirements of sending physical copy of the corrigendum to the Notice of the EGM to the Members have been dispensed with pursuant to the circular No.17/2020 dated April 13, 2020 and Circular No. 02/2021 dated January 13, 2021 issued by the Ministry of Corporate Affairs.

Thank You Encl.: a/a. For Onward Technologies Limited

DIMPLE Digitally signed by DIMPLE CHAUHAN CHAUHAN Date: 2021.06.04 14:32:13 +05'30'

Dimple Chauhan Company Secretary

2nd floor, Sterling Centre, Dr. A.B. Road, Worli, Mumbai 400018. Tel: +91 22 24926570 CIN: L28920MH1991PLC062542 | www.onwardgroup.com

Mumbai | Pune | Chennai | Chicago | Detroit | Cleveland | Frankfurt | Bengaluru | London

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ONWARD TECHNOLOGIES LIMITED

CIN: L28920MH1991PLC062542

Regd. Office: 2[nd] floor, Sterling Centre, Dr. Annie Besant Road, Worli, Mumbai – 400 018 (M.H.) E-mail : investors@onwardgroup.com l Website : www.onwardgroup.com l Tel : 022-2492 6750

CORRIGENDUM TO THE NOTICE OF THE EXTRA-ORDINARY GENERAL MEETING

Onward Technologies Limited (“the Company”) had issued a Notice of Extra-Ordinary General Meeting dated May 27, 2021 (“EGM”) for convening the EGM of the Members of the Company to be held on Thursday, June 24, 2021 at 11:00 a.m. IST through Video Conferencing (VC) / Other Audio Visual Means (OAVM). The Notice of the EGM has been dispatched to the shareholders of the Company in due compliance with the provisions of the Companies Act, 2013 read with the relevant rules made thereunder.

Pursuant to the Regulation 164 of SEBI (ICDR) Regulation read with clause 4(c) of SEBI Circular No. CIR/MIRSD/2/2013 dated January 24, 2013 and with reference to the Point No. 7 of Item No. 1 from the Explanatory Statement captioned “Identity of the natural persons who are the ultimate beneficial owners of the shares proposed to be allotted and/or who ultimately control the proposed allottees, the percentage of post preferential issue capital that may be held by them (*) ”of the Notice of EGM, we hereby request you to read as under:

Sr. No.	Name & Address of the Proposed Allottee	Category	Identity of Ultimate Beneficial Owners	No. & % of equity shares held prior to the preferential allotment	No. & % of equity shares held prior to the preferential allotment	No. & % of New Equity Shares post preferential allotment	No. & % of New Equity Shares post preferential allotment	No. & % of warrants post conversion into equity shares under preferential allotment	No. & % of warrants post conversion into equity shares under preferential allotment
				No. of shares	%	No. of shares	%	No. of warrants	%
1.	Infinity Direct Holdings 7thFloor, GFin Tower, 42 Hotel Street, Cybercity, Ebène 72201, Republic of Mauritius	Non- Promoter	Mr. James Paton, CEO of Infinity Investment Management**	Nil	Nil	11,00,000	5.05%	43,00,000	19.73%
Total				Nil	Nil	11,00,000	5.05%	43,00,000	19.73%

• The post issue numbers and % of the equity share capital held by the Proposed Allottee has been calculated on the assumption that all the 43,00,000 warrants proposed to be issued shall be converted into equity shares of the Company.

• ** Infinity Direct Holdings is a 100% subsidiary of Infinity Holdings. There is no natural person who, whether acting alone or together or through one or more juridical person, has ownership of or entitlement to more than 2% of shares or capital or profits of Infinity Holdings or who exercise control through other means except as given below:

Infinity Investment Management has 100% control over the investment decisions of Infinity Holdings by virtue of an investment management agreement between Infinity Investment Management and Infinity Holdings. No individual has any controlling interest in Infinity Investment Management.

This Corrigendum to the Notice of the EGM (“Corrigendum”) shall form an integral part of the Notice of the EGM which has already been circulated to the shareholders of the Company and on and from the date hereof, the Notice of the EGM shall always be read in conjunction with this Corrigendum. This Corrigendum is also being published in the Free press journal (in English) and Navshakti (in Marathi) and will also be available on the website of BSE Ltd. (www.bseindia.com), The National Stock Exchange of India Ltd. (www.nseindia.com) and on the website of the Company (www.onwardgroup.com). All other contents of the Notice of the EGM, save and except as modified or supplemented by this Corrigendum, shall remain unchanged.

By Order of the Board For Onward Technologies Limited

Sd/Dimple Chauhan Company Secretary M. No. A51595

Place : Mumbai Date : June 04, 2021

Registered Office:

2[nd] Floor, Sterling Centre, Dr. Annie Besant Road, Worli, Mumbai – 400 018. Email: investors@onwardgroup.com l website: www.onwardgroup.com CIN: L28920MH1991PLC062542