The Board of Directors has approved forfeiture of 34096 partly paid up equity shares of the Company on which call money has not been received by the Company.
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Ace Software Exports Limited has forfeited 34,096 partly paid-up equity shares because shareholders failed to pay the outstanding call money by the April 4, 2025 due date. The company had earlier issued a Letter of Offer on December 4, 2024 and sent a final reminder on February 27, 2025 before taking this step. The Board of Directors approved the forfeiture at its meeting held on May 30, 2025, and the amount already paid on these shares will also be forfeited along with the shares themselves. A formal forfeiture notice will be sent to the affected shareholders in due course. The scrip code on BSE is 531525.
This is a minor administrative action with negligible impact on the stock price or most shareholders, as only 34,096 shares (a very small number) held by non-paying allottees are affected. Existing shareholders are not directly impacted, though share count will reduce slightly and forfeited amounts may be credited to the company's reserves.