Submission of News paper Advertisement in respect of Forfeiture Notice sent to shareholders
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Aarcon Facilities Ltd (formerly R B Gupta Financials Ltd) submitted copies of newspaper advertisements published on May 30, 2025 in Business Standard (English, All India) and Loksatta-Jansatta (Gujarati, Local) regarding a 1% Reminder-Cum-Forfeiture Notice sent to holders of partly paid-up equity shares. These shares were issued through a 1996 public issue of 39,60,000 equity shares at Rs. 10 each, where only Rs. 2.50 was paid on application and the remaining Rs. 7.50 on allotment (originally due October 5, 1996). The Board, at its May 17, 2025 meeting, offered a final opportunity to pay the outstanding allotment money (with interest waived) by August 30, 2025, failing which the partly paid shares, including the amount already paid, will be forfeited. A sample notice shows Folio 00001224 with 500 partly paid shares and Rs. 3,750 outstanding.
Holders of partly paid-up shares from the 1996 issue must pay the outstanding allotment amount by August 30, 2025 or risk forfeiting both the unpaid balance and the amount already paid. This is essentially an old housekeeping matter from a 1996 issue and is unlikely to materially affect the stock price or current shareholders not holding these specific partly paid shares.