Palred Technologies Limited — Capital/Financing Update 2022

Jan 19, 2022

Date: 19.01.2022

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To,

	BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai 400 001. BSE Scrip Code: 532521	National Stock Exchange of India Limited Exchange Plaza, 5th Floor, Plot No.CI1, G-Block, 13andra-Kurla Complex, 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

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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 regarding Preferential Allotment of warrants	Details regarding Preferential Allotment of warrants	Details regarding Preferential Allotment of warrants
S. No Particulars Information
1. type of securities proposed to be issued (viz. equity shares, convertibles etc.); convertible warrants ("Warrants") with a right to exercise by the Warrant holder i.e., to subscribe to one Ordinary Share per Warrant
2. type of issuance (further public offering, rights issue, depository receipts (ADR/GDR), qualified institutions placement, preferential allotment etc.); Preferential issue in accordance with Chapter V of SEBI (ICDR) Regulations, 2018
3. total number of securities proposed to be issued or the total amount for which the securities will be issued (approximately); Up to 25,00,000 (Twenty Five Lakhs) Warrants, at an issue price of INR 128/- (Indian Rupees One Hundred Twenty Eight only) per Warrant, for an amount not exceeding INR 32,00,00,000/- (Rupees Thirty-Two Crores only).
In case of preferential issue, the listed entity shall disclose the following additional details 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 (in case of convertibles}, number of investors	a.Outcome of the subscription- The Warrants were allotted to Mr.Mathew Cyriac non- promoter of the companyfrom whom upfront amount of 25% of Warrant Issue Price, i.e. Rs. 8,00,00,000 (Rupees Eight Crores Only), has been received as subscription amount, entitling Mr.Mathew Cyriacto seek conversion of Warrants 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, i.e., 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 Rs. 10/- each at an issue price of Rs. 128/- per share (including premium of Rs. 118/- per share). b.Issue price/Allotted price -Warrant Issue price (i.e., the price including the Warrant Subscription Price and the Warrant Exercise Price) of Rs. 128/- (Rupees One Hundred Twenty Eight only) ("Warrant Issue Price"), for each Warrant. Upon exercise of right to convert Warrants into equity shares against each Warrant, Mr. Mathew Cyriac shall 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). The amount paid against Warrants shall be adjusted/set-off against the issue price for the resultant Equity Shares. c. Number of Investor - 1 (One)
6.	In case of convertibles - intimation on conversion of securities or on lapse of the tenure of the instrument	a. The right attached to Warrants may be exercised by the Warrant holder, in one or more tranches, at any time on or before the expiry of 9 months from the date of allotment of the Warrants. In the event the Warrant holder does not exercise any Warrant(s) within 9 months from the date of allotment, such unexercised Warrant(s) shall lapse and the up- front amount of 25% of the issue price paid to the Company at the time of subscription of such unexercised Warrant(s) shall stand forfeited. b. The warrants by itself do not give ritht to the holder thereof any rights of the Members of the Company.