The Company has sent a notice about forfeiture of partly paid equity shares to all shareholders who failed to pay First and Final Call Money on 34096 partly paid up rights equity shares.
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ACE Software Exports has issued a forfeiture notice to shareholders who failed to pay the First and Final Call Money on 34,096 partly paid-up rights equity shares by the April 4, 2025 deadline. This follows a Rights Issue of up to 64 lakh shares priced at ₹78 each (including a ₹68 premium) in a 1:1 ratio, with a record date of December 5, 2024. The Board of Directors approved the forfeiture at its meeting on May 30, 2025, after issuing reminders on January 28 and March 17, 2025. The forfeited shares, along with amounts already paid by defaulting shareholders, will become the property of the company, which may resell, reallot, or cancel them.
This is a routine procedural action against a small subset of shareholders who didn't pay the remaining call money. The 34,096 forfeited shares are a tiny fraction of the 64 lakh rights issue, so the financial and dilution impact on existing shareholders is negligible. The forfeited shares will likely be resold or reallotted, which could marginally increase the company's capital base.