Please find enclosed herewith intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Redemption of Unlisted Class-2 0% Non-cumulative ....
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Organic Recycling Systems Ltd has redeemed 2,911 unlisted 0% Non-cumulative Redeemable Preference Shares at Rs. 12,500 per share (aggregating Rs. 3.64 crore) and 8,738 such shares at Rs. 13,175 per share (aggregating Rs. 11.51 crore). The total redemption value is approximately Rs. 15.15 crore. These preference shares had a face value of Rs. 10 each and were redeemed at a significant premium. The redemption was funded from proceeds of fresh equity shares issued pursuant to conversion of warrants. This is a preference share holder event and does not directly involve equity shareholders.
This redemption reduces the company's preference share liability and simplifies its capital structure. It has no direct impact on equity shareholders as the event pertains only to preference share holders who are being redeemed at a premium to face value.