Lokesh Machines Limited has informed the Exchange regarding ''.Disclosure under Regulation 30 of SEBI (LODR) Regulations, 2015- Clarification on EGM Notice for Preferential Issue.
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Lokesh Machines Limited has issued clarifications to its earlier EGM Notice regarding a proposed preferential issue of equity shares and warrants. The key clarification states that promoters, promoter group members, directors, and KMP do not intend to participate in the equity share portion but intend to subscribe to warrants. However, five specific promoters (Mr. Bollineni Kishore Babu and four others from the Mullapudi family) do intend to participate in the equity share preferential issue. The company also disclosed the ultimate beneficial owners of Zandra Herbs & Plantations LLP as Mr. Sharvil Ramanbhai Patel and Mr. Pankaj Ramanbhai Patel. A valuation report has been obtained as per SEBI ICDR Regulation 166A.
This clarification indicates selective promoter participation in the preferential issue, with non-promoters likely being the primary subscribers for equity shares while promoters opt for warrants. This could dilute promoter shareholding in equity shares but maintain control through warrant subscriptions.