Dear Sir/Madam, Pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015, we wish to inform you that the Board of Directors of California Software Company Limited at its meeting ....
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California Software Company Limited's Board of Directors approved the redemption of 4,18,700 Optionally Convertible Redeemable Preference Shares (OCRPS) held by Chemoil Private Limited. These shares had a face value of ₹10 each but were issued at ₹100 per share, totalling ₹4,18,70,000. Upon redemption, the OCRPS will be cancelled and extinguished. Separately, the Board extended the payment deadline for the First and Final Call Money on partly paid equity shares from the company's Rights Issue by one additional month. Shareholders who fail to pay within the extended period risk having their partly paid shares forfeited under the Companies Act, 2013 and SEBI regulations.
The OCRPS redemption is a straightforward obligation completion and has no direct impact on equity holders. The rights issue call money extension signals possible weak uptake from shareholders, and those with partly paid shares face a risk of forfeiture if payment is not made within the extended one-month window.