Palred Technologies Limited — Capital/Financing Update 2022

Jan 19, 2022

Date: 19.01.2022

==> picture [81 x 47] intentionally omitted <==

To,

	BSE LimitedPhiroze Jeejeebhoy Towers,Dalal Street, Fort,Mumbai 400 001.BSE Scrip Code: 532521	National Stock Exchange ofIndia LimitedExchange Plaza, 5th Floor,Plot No.CI1,G-Block, 13andra-KurlaComplex,Bandra (E), Mumbai 400 051.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 meeting of the Board of Directors of M/s Palred Technologies Limited held on Wednesday, the 19th January, 2022 at 5.00 P.M. (IST) through Video Conferencing (VC) / Other Audio-Visual Means (OAVM) hosted at the registered office of the company the following were duly considered and approved by the Board:

1. Allotment of 25,00,000 convertible warrants at a price (i.e. the price including the Warrant subscription Price and the Warrant Exercise Price) of Rs. 128/- each ("Warrant Issue Price"), aggregating to Rs. 32,00,00,000 (Rupees Thirty-Two Crores Only), on preferential basis to Mr. Mathew Cyriac, non-Promoter of the company pursuant to In-Principle Approval granted by the National Stock Exchange of India Limited (vide its letter reference no. NSE/LIST/29187 dated January 10, 2022) and BSE Limited (vide its Letter reference no. DCS/PREF/KK/PRE/1800/ 2021-22 dated January 10, 2022).

The Company has received 25% of the Warrant Issue Price i.e. Rs. 32/- against each Warrant, aggregating to Rs. 8,00,00,000 (Rupees Eight Crores Only) ("Warrant Subscription Price") from Mr. Mathew Cyriac.

The above allotment of Warrants entitles Mr. Mathew Cyriac to seek conversion of such Warrant(s) in one or more tranches, within a maximum period of 9 months from the date of allotment of Warrants, upon the payment of Warrant Exercise Price of Rs. 96/- per Warrant, equivalent to 75% of the Warrant Issue Price ("Warrant Exercise Price"), and be allotted 1 (one) fully paid-up Equity Share of the Company of face value of Re. 10/- each, at an issue price of Rs. 128/- per share (including premium of Rs. 118/- per share), against each Warrant.

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

As the Company has allotted Warrants and pending conversion of the same into equity shares, currently there is no change in the Paid-up Share Capital of the Company.

Requisite details pursuant to Regulation 30 of the Listing Regulations read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015 is enclosed herewith as Annexure -A.

The meeting concluded at 05.50 p.m.

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

Thanking you.

Yours faithfully,

For Palred Technologies Limited

==> picture [62 x 28] intentionally omitted <==

Shruti Mangesh Rege Company Secretary

==> picture [95 x 90] intentionally omitted <==

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 regarding Preferential Allotment of warrants	Details regarding Preferential Allotment of warrants	Details regarding Preferential Allotment of warrants
S. NoParticularsInformation
1.type of securities proposedto be issued (viz. equityshares, convertibles etc.);convertible warrants ("Warrants") with a right toexercise by the Warrant holder i.e., to subscribe toone Ordinary Share per Warrant
2.type of issuance (furtherpublic offering, rights issue,depositoryreceipts(ADR/GDR),qualifiedinstitutionsplacement,preferential allotment etc.);Preferential issue in accordance with Chapter V ofSEBI (ICDR) Regulations, 2018
3.total number of securitiesproposed to be issued or thetotal amount for which thesecurities will be issued(approximately);Up to 25,00,000 (Twenty Five Lakhs) Warrants, atan issue price of INR 128/- (Indian Rupees OneHundred Twenty Eight only) per Warrant, for anamount not exceeding INR 32,00,00,000/- (RupeesThirty-Two Crores only).
In case of preferential issue, the listed entity shall disclose the following additionaldetails to the stock exchange(s)
4.	Names of the investor(s)	Mr. Mathew Cyriac.
5.	Post allotment of securities -outcome of the subscription,issue price / allotted price (incaseofconvertibles},number of investors	a.Outcome of the subscription- The Warrantswere allotted to Mr.Mathew Cyriac non-promoter of the companyfrom whom upfrontamount of 25% of Warrant Issue Price, i.e. Rs.8,00,00,000 (Rupees Eight Crores Only), hasbeen received as subscription amount, entitlingMr.Mathew Cyriacto seek conversion ofWarrants in one or more tranches, within amaximum period of 9 months from the date ofallotment of Warrants upon the payment ofWarrant Exercise Price of Rs. 96/- per Warrant,i.e., equivalent to 75% of the Warrant Issue

		Price ("Warrant Exercise Price"), and be allotted1 (one) fully paid-up Equity Share of theCompany of face value of Rs. 10/- each at anissue price of Rs. 128/- per share (includingpremium of Rs. 118/- per share).b.**Issue price/Allotted price -**Warrant Issueprice (i.e., the price including the WarrantSubscription Price and the Warrant ExercisePrice) of Rs. 128/- (Rupees One HundredTwenty Eight only) ("Warrant Issue Price"), foreach Warrant.Upon exercise of right to convert Warrants intoequity shares against each Warrant, Mr.Mathew Cyriac shall be allotted 1 (one) fullypaid-up Equity Share of the Company of facevalue of Re. 10/- each at an issue price ofRs. 128/- per share (including premium ofRs. 118/- per share). The amount paid againstWarrants shall be adjusted/set-off against theissue price for the resultant Equity Shares.c. Number of Investor - 1 (One)
6.	In case of convertibles -intimation on conversion ofsecurities or on lapse of thetenure of the instrument	a. The right attached to Warrants may beexercised by the Warrant holder, in one or moretranches, at any time on or before the expiry of9 months from the date of allotment of theWarrants. In the event the Warrant holder doesnot exercise any Warrant(s) within 9 monthsfrom the date of allotment, such unexercisedWarrant(s) shall lapse and the up- front amountof 25% of the issue price paid to the Companyat the time of subscription of such unexercisedWarrant(s) shall stand forfeited.b. The warrants by itself do not give ritht to theholder thereof any rights of the Members of theCompany.