We wish to inform you that the requirements regarding Annual Secretarial Compliance Report under Regulation 24A of SEBI (Listing Obligations and Disclosure Requirements) (Amendment) Regulations.
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Globe Commercials Ltd (recently renamed Globe Multi Ventures Ltd) has told the stock exchanges that the Annual Secretarial Compliance Report under SEBI Regulation 24A does not apply to it. The company is claiming exemption under Regulation 15(2) of SEBI LODR Rules, which is available to listed entities whose paid-up equity capital does not exceed Rs. 10 crore and net worth does not exceed Rs. 25 crore. As per the last audited balance sheet, the company's paid-up equity share capital is Rs. 6.002 crore and its net worth stood at Rs. 10.58 crore as on 31 December 2024, putting it well within the exemption limits. The company has assured the exchanges that it will begin complying with the regulation within 6 months if it ever crosses either of these thresholds in the future.
This is a routine compliance disclosure and has no material impact on shareholders or the stock price. It merely confirms the company is small enough to qualify for a regulatory exemption from an annual secretarial compliance filing.