Certificate from Statutory Auditors - End use of proceeds raised through issue of preferential warrants
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GEE Ltd has submitted a Statutory Auditor's certificate that was inadvertently omitted from their earlier Board Meeting outcome filing dated 15th May 2026. The certificate confirms that proceeds of Rs 10.20 crores from the issuance of 51,00,000 Preferential Convertible Warrants (at Rs 80 per warrant including a premium of Rs 78) have been properly utilized for working capital purposes. The certification was issued by SAPD & Associates, Chartered Accountants, in compliance with SEBI ICDR Regulation 2018. The company has apologized for the procedural oversight and assured caution in future filings.
This is a compliance clarification filing confirming proper utilization of warrant proceeds for working capital. It addresses a procedural gap in disclosure rather than representing new material information, but provides assurance to shareholders that the raised funds are being used as intended.