Please find enclosed herewith submission of disclosure received from Mr. Fayaz Usman Faheed, Promoter of the Company under Regulation 31(1) and 31(2) of the SEBI (SAST) Regulations, 2011 ....
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Mr. Fayaz Usman Faheed, the promoter and Managing Director of SDC Techmedia Ltd (BSE-SME), has created a new pledge on 39,00,000 equity shares (about 60% of total share capital) in favour of Martin Happy Home Private Limited. With this new pledge, 100% of the promoter's total holding of 48,61,200 shares (74.87% of the company) is now encumbered. The existing pledge of 9,61,200 shares remains. The total loan involved is Rs. 35 crore at 12% interest per annum, intended for purchase, rollout and installation of Sony 4K Digital Cinema Projection Systems, repayable in monthly instalments. Notably, the lender is a trading, lottery and real estate company, not a bank or NBFC.
With 100% of the promoter's shares now pledged and 60% of the company's total share capital encumbered, any default on the Rs. 35 crore loan could trigger a change in control, posing a significant risk for minority shareholders on this BSE-SME listed stock.