SPS Finquest: Outcome Of Board Meeting

The Board of Directors of the Company in its meeting held to-day i.e. 2nd June 2021 has taken the following decisions subject to necessary approval of the shareholders of the Company BSE Ltd. and other regulatory authorities as applicable:

1) Recommended issue of Bonus Shares in ratio of five (5) Equity Shares for every four (4 Equity Shares held;

2) Issue on private placement/ preferential basis 2 500 0.01% Compulsorily Convertible Debentures (CCDs) of Rs.1 00 000/- each aggregating to Rs.25 00 00 000/- (Rupees twenty five crores);

3) Increase the Authorized Share Capital from Rs.5 00 00 000/- to Rs.12 00 00 000/-;

4) Submit the proposal for migrating the Companys Equity Capital from SME Platform to Capital Market Segment (Main Board) of BSE Ltd.; and

5) Has appointed Mr. Sandeep P. Shah as Executive Chairman.

The Board has decided to seek necessary approvals by way of resolutions to be passed by the Members of the Company by way of postal ballot/e-voting.