Announcement under regulation 30
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The board of Artificial Electronics Intelligent Material Ltd (formerly Datasoft Application Software India Ltd) approved multiple key decisions on June 12, 2025. Two new Independent Directors were appointed for a 5-year term: Mr. Alan M Wagner (CEO of Nisene Technology Group, a US semiconductor equipment firm) and Mr. S. Balasubramanian (ex-Defense professional with 30+ years in operations). The board also approved a preferential issue of up to 1,24,67,500 equity shares at ₹40 each (₹10 face value + ₹30 premium) to 133 non-promoter allottees, raising approximately ₹49.87 crore. Separately, 1,18,00,000 convertible warrants (at ₹40 each, convertible within 18 months) will be issued to promoters Eswara Rao Nandam, Uma Nandam, and Vishaal Nandam, potentially bringing in another ₹47.20 crore. M/s. Jitendra Parmar & Associates was appointed as Secretarial Auditor for five years (FY2025-26 to 2029-30). The 33rd AGM is scheduled for July 12, 2025 via video conferencing.
The preferential allotments could raise up to ~₹97 crore, but will dilute existing shareholders significantly — promoter group shareholding is projected to rise from ~15% to ~65% post-issue assuming full warrant conversion. New US-based director Alan Wagner brings semiconductor industry expertise, potentially signalling strategic interest in that segment. Existing shareholders should watch the AGM (July 12) where shareholder approval for these allotments will be sought.