Please find attached corrigendum of EGM Notice dated 24th July, 2025 for your reference and records.
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Sancode Technologies has issued a corrigendum to its earlier EGM notice (dated July 24, 2025) following queries from BSE. The company is proposing to issue 11,11,111 convertible warrants on a preferential basis to raise approximately Rs. 6 crore. About Rs. 4.56 crore is earmarked for expanding into new-age technologies including semiconductor chip testing and packaging (OSAT) and AI/ML, while Rs. 1.44 crore is for general corporate purposes. The company has set up a wholly owned subsidiary called Sancode Semi Pvt Ltd to execute the OSAT project, signed an MOU with Malaysia-based Silicon Connect SDN BHD for technical collaboration, and applied to the Odisha government under its semiconductor policy. New remote e-voting for shareholders has been scheduled for November 20-21, 2025.
Shareholders now have additional clarity on the fund use and the company's semiconductor/AI ambitions. Approval of the warrant issue will dilute existing equity and fund a strategic shift into high-growth but execution-risky semiconductor and AI segments, with outcomes dependent on government approvals and JV partner commitment.