Heads UP Ventures Limited has informed the Exchange regarding Board meeting held on May 02, 2025.
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Heads UP Ventures Limited held a board meeting on May 2, 2025, where several decisions related to its planned Rights Issue were on the agenda. However, the Board did not approve key Rights Issue items — including the issue price, issue size, entitlement ratio, record date, and payment mechanism — because the company had not yet received the In-Principle Approval from the stock exchanges (NSE and BSE) by the date of the meeting. The company expects to receive this approval on May 5, 2025, after which the Board will reconsider and finalize these Rights Issue terms. Because the Rights Issue decisions were held back, there was a delay in filing the meeting outcome with the exchanges.
No Rights Issue has been approved yet — shareholders and potential investors will need to wait for the In-Principle Approval and a follow-up board decision before knowing the issue price, size, and record date. The deferred decision is procedural rather than a rejection, but it adds short-term uncertainty around the capital raise timeline.