California Software Company Limited has informed the Exchange regarding Outcome of Board Meeting held on May 28, 2026.
CALSOFT · price
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The board approved redemption of 418,700 Optionally Convertible Redeemable Preference Shares (OCRPS) held by Chemoil Private Limited at ₹100 per share, totaling ₹4.19 crore. Upon payment, these OCRPS will be redeemed, cancelled, and extinguished. Additionally, the board extended by one month the deadline for shareholders to pay the First and Final Call Money for partly paid equity shares from a Rights Issue. Shareholders who fail to pay within the extended period face forfeiture of their shares.
The redemption reduces the company's preference share capital and releases ₹4.19 crore in cash to Chemoil Private Limited. The rights issue call money extension provides flexibility to shareholders but signals potential risk of share forfeiture for non-payment.