Palred Technologies Limited — Capital/Financing Update 2021

Oct 26, 2021

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To,	Date: 26.10.2021
The Manager BSE Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai- 400001. BSE Scrip Code: 532521	The Manager, NSE Limited, Exchange Plaza, BandraKurla Complex, Bandra (E), Mumbai- 400051. NSE Scrip Code: PALREDTEC)

Dear Sir/Madam,

Sub: Outcome of board meeting under regulation 30 of SEBI (Listing Obligations and Disclosure requirements) regulations, 2015

Unit: Palred Technologies Limited

With reference to the subject cited, this is to inform the Exchange that at the Board meeting of M/s. Palred Technologies Limited held on Tuesday the 26th day of October, 2021 at 12.30 p.m. through video conferencing, the following were duly considered and approved.

1. Issue and allot 25,00,000 convertible warrants ('Warrants'), each carrying a right exercisable by the Warrant holder to subscribe to one Ordinary Share per Warrant, at a price (including the warrant subscription price and the warrant exercise price) of Rs.128 per Warrant aggregating to Rs. 32,00,00,000 (Rupees Thirty-Two Crores Only) subject to the approval of the Shareholders of the Company and applicable regulatory authorities as the case may be, in accordance with the SEBI ICDR Regulations and other applicable laws.

2. Convene Extra Ordinary General Meeting on Saturday, the 20[th] day of November, 2021 at 09:30 a.m. through Video Conference/ OAVM for seeking their approval for the said preferential allotment.

3. Appointment of M/s S.S. Reddy & Associates, Practicing Company Secretaries as scrutinizer for evaluating the voting process for Extra Ordinary General Meeting of the Company.

PALRED TECHNOLOGIES LIMITED

(FORMERLY KNOWN AS FOUR SOFT LIMITED) CIN: L72200TG1999PLC033131

Regd. Office: H.No. 8-2-703/2/B, Plot.No.2 Road.No.12, Banjara Hills, Hyderabad, Telangana- 500034. Tele: +9140 67138810|Website:www.palred.com

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Details as required under Regulation 30 of the SEBI Listing Regulations read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015 with respect to the Preferential Allotment is enclosed as Annexure A.

The meeting of the Board of Directors commenced at 12.30 p.m. (IST) and concluded at 01.45 p.m. (IST)

This is for the information and records of the Exchange, please.

Thanking you.

Yours faithfully, For Palred Technologies Limited

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Shruti Mangesh Rege Company Secretary

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PALRED TECHNOLOGIES LIMITED

(FORMERLY KNOWN AS FOUR SOFT LIMITED)

CIN: L72200TG1999PLC033131

Regd. Office: H.No. 8-2-703/2/B, Plot.No.2 Road.No.12, Banjara Hills, Hyderabad, Telangana- 500034. Tele: +9140 67138810|Website:www.palred.com

Annexure A

Details required under Regulation 30 of the SEBI Listing Regulations read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015:

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S. No. Particulars Details
1. Type of securities proposed convertible warrants ("Warrants") with a
to be issued (viz. Equity right exercisable by the Warrant holder to
shares, convertibles etc.); subscribe to one Ordinary Share per
Warrant.
2. Type of issuance (further Preferential Allotment
public offering, rights issue,
depository receipts
(ADRIGDR), qualified
institutions placement,
preferential allotment etc.);
3. Total number of securities Upto 25,00,000 convertible warrants
proposed to be issued or ('Warrants'), each carrying a right
the total amount for which exercisable by the Warrant holder to
the securities will be issued subscribe to one Ordinary Share per
(approximately); Warrant, at a price (including the
warrant subscription price and the
warrant exercise price) of Rs.128 per
Warrant aggregating to Rs.
32,00,00,000 (Rupees Thirty-Two
Crores Only).
4. Details furnished in case of preferential issue:
a. Name and number of the Mr. Mathew Cyriac, Non- Promoter of
investor. the Company
b. Post allotment of securities - outcome of the subscription
Name of Pre Warrants Post exercise of warrants
the issue proposed to into ordinary shares
allottee details
be allotted No. %
Mr. Nil 2500000 25,00,000 20.44%
Mathew Shares
Cyriac
Notes:
- The shareholding post exercise of warrants as shown above is
calculated assuming full exercise of Warrants and consequent
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	allotment of the Ordinary Shares of the Company. - In the event any further issue of shares by the Company between the date of this notice and the date of allotment of Ordinary Shares on exercise of warrants, the shareholding pattern shall stand modified accordingly;	allotment of the Ordinary Shares of the Company. - In the event any further issue of shares by the Company between the date of this notice and the date of allotment of Ordinary Shares on exercise of warrants, the shareholding pattern shall stand modified accordingly;
c.	Issue Price/allotted (in case of convertible)	Issue Price of Warrant – Rs.128/- The Issue price of Warrant is not lower than the floor price determined in accordance with Regulation 164 of Chapter V of SEBI ICDR Regulations.
d.	In case of convertibles - intimation on conversion of securities or on lapse of the tenure of the instrument.	The issue and allotment of Warrants is subject to approval Members by way of passing of Special Resolution at the extraordinary general meeting of the Company to be held on November 20, 2021. Each warrant is convertible into 1 Ordinary Share and the conversion can be exercised at any time within a period of 9 months from the date of allotment, in one or more tranches, as the case may be and on such other terms and conditions as applicable. An amount equivalent to 25% of the Warrant price shall be payable at the time of subscription and allotment of each Warrant and the balance 75% of the Warrant Price shall be payable by the Warrant holder against each warrant at the time of allotment of Ordinary Shares pursuant to exercise of the options attached to Warrant(s) to subscribe to Ordinary Share(s). The amount paid against Warrants shall be adjusted/set-off against the issue price for the resultant Ordinary Shares.

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
The warrants proposed to be issued
shall be subject to appropriate
adjustment, if during the interim
period, the Company makes any
issue of equity shares by way of
capitalisation of profits or reserves,
demerger / realignment, rights issue
or undertakes consolidation /
subdivision / re-classification of
Ordinary Shares or such other similar
events or circumstances requiring
adjustments.
5. Any cancellation or Not Applicable
termination of proposal for
issuance of securities
including reasons thereof
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