Newgen Software Technologies Limited has informed the Exchange about Copy of Newspaper Publication in relation to Notice to Shareholders of the Company for transfer of Shares to Investor Education and Protection Fund (IEPF).
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Newgen Software Technologies has published a newspaper notice informing shareholders that shares with unpaid or unclaimed dividends for seven consecutive years will be transferred to the Investor Education and Protection Fund (IEPF) as required under Section 124 of the Companies Act, 2013. Specifically, the final dividend for FY 2017-18 that remains unclaimed will trigger this transfer. Shareholders holding physical shares will have their original certificates cancelled and duplicates issued in IEPF's name, while demat holdings will be debited. The deadline to claim the unpaid dividend and retain shares is 1st September 2025, after which shares along with accrued benefits will be moved to IEPF without further notice.
Shareholders who have not claimed their final dividend for FY 2017-18 risk losing their shares to the IEPF if they do not act before 1st September 2025. However, even after transfer, shareholders can still reclaim their shares and dividends from the IEPF Authority. This is a routine regulatory compliance action and is unlikely to materially impact the stock price.