SoftTech Engineers Limited — Capital/Financing Update 2021

Sep 4, 2021

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To, National Stock Exchange of India Limited Bandra-Kurla Complex Bandra (East) Mumbai – 400 051

4[th] September, 2021

Scrip Code: SOFTTECH

SUBJECT: Outcome of Board Meeting held on 4[th] September, 2021as per Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements), 2015

Pursuant to regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we would like to inform that the Board of Directors of the Company at its meeting held Today, i.e. 4[th ] September, 2021 which commenced at 11.00 AM and concluded at 3.00 PM have considered and approved the following:

1. The Board of Directors considered and approved allotment of 21,416 fully paid equity shares to the employees, against exercise of stock options earlier granted to them under SoftTech Employees Stock Option Plan 2017.

2. The Board of Directors approved preferential issue of size INR 10,00,00,000/- (Rupees Ten crores only).

   • a. Type of securities proposed to be issued: Equity Shares

   • b. Type of issuance : Preferential allotment / Private Placement

   • c. Total number of securities proposed to be issued or the total amount for which the securities will be issued (approximately): The proposed issue is for an amount upto INR 10,00,00,000/(Rupees Ten crores only) including securities premium.

   • d. In case of preferential issue the listed entity shall disclose the following additional details to the stock exchange:

Names of the investors:

  1. School Of Design And Entrepreneurship LLP 

  2. Mr. Dilip Madanlal Bhootra 

1. The Board of Directors decided to convene the Annual General Meeting of the Company for the financial Year ended 31[st] March 2021 on Thursday, 30[th] September, 2021, at 2:30 P.M through video conferencing (‘VC’) / other audio visual means (‘OAVM’).

   • Further the Company has fixed Thursday, 23[rd] September, 2021 as the cut off date for determining the members entitled to vote at the ensuing 25[th] Annual General Meeting.

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1. As the term of 5 years of current statutory Auditor’s is expiring in the upcoming Annual general meeting, the Board of Directors considered the special notice received from the Shareholder of the Company and recommended to the shareholders appointment of M/s. P G Bhagwat LLP, Chartered Accountants (Registration No. 101118W/W100682) to hold the office for 5 (Five) years from the conclusion of this 25[th] Annual General Meeting till the conclusion of 30[th] Annual General Meeting of the Company.

Brief Profile:

M/s. P G Bhagwat LLP, Chartered Accountants (Registration No. 101118W/W100682) is firm of Chartered Accountants headquartered in Pune and renowned in its niche area. It has its presence since 1938. The firm has subjected itself to the peer review process of Institute of Chartered Accountants of India and holds a valid certificate issued by the Peer Review Board of the Institute of Chartered Accountants of India. M/s. P.G. Bhagwat LLP (Firm Registration No. 101118W/W100682), has confirmed their willingness to act as Statutory Auditors of the Company. The Company has received letter from M/s. P.G. Bhagwat and associates (Firm Registration No. 101118W/W100682), to the effect that their appointment, if made, would be within the prescribed limits under Section 141(3)(g) of the Companies Act, 2013 and that they are not disqualified from being appointed.

Kindly take the same on record.

For SoftTech Engineers Limited

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AISHWARYA PATWARDHAN COMPANY SECRETARY

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