GTT Data Solutions Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 30/07/2025 ,inter alia, to consider and approve the forfeiture of partly ....
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GTT Data Solutions Ltd (formerly Cinerad Communications Ltd) has informed BSE that its Rights Issue Committee will meet on Wednesday, July 30, 2025. The main item on the agenda is to consider and approve the forfeiture of partly paid-up equity shares on which shareholders have failed to pay call money, even after reminders and notices. The forfeiture, if approved, will be carried out under the Companies Act, 2013, the company's Articles of Association, and SEBI Listing Regulations. This follows up on a previous rights issue where some shareholders did not pay the remaining call money owed on their allotted shares.
This is an administrative/cleanup action that affects only those shareholders who did not pay their call money — they stand to lose their partly paid shares. For existing shareholders, it is broadly neutral; the share count may reduce slightly, which is a minor positive on earnings per share but unlikely to move the stock meaningfully.