Jet Freight Logistics Limited has made a disclosure to the National Stock Exchange of India Limited and BSE Limited pursuant to Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The disclosure was submitted by Mr. Richard Francis Theknath on behalf of the Promoter, Promoter Group, and Persons Acting in Concert (PACs).

Allottees

The warrants were allotted to the following members of the Promoter Group:

  • Ms. Thea Richard Theknath
  • Mr. Tyrus Richard Theknath
  • Ms. Tyra Richard Theknath

Shareholding Impact

Although the warrants were not allotted to Mr. Richard Francis Theknath directly, the allotment results in a change in the shareholding percentage of the Promoter and Promoter Group on a fully diluted basis.

Pre-Allotment Shareholding (Before Acquisition)

The total holding of the Promoter and Promoter Group (including PACs) was 2,36,26,488 equity shares, representing 50.92% of both the total share capital and total diluted share capital.

Breakdown of individual holdings:

  • Richard Francis Theknath: 1,08,48,452 shares (23.38%)
  • Dax Francis Theknath: 96,18,000 shares (20.73%)
  • Agnes Francis Theknath: 31,60,000 shares (6.81%)
  • Other members (Arlene Sandra Theknath, Christina Dax Theknath, Elizabeth Muriel Dias, Achamma Coutinho, Tyra Richard Theknath, Thea Richard Theknath, Tyrus Richard Theknath): Minimal or zero holdings

Capital Structure Details

  • Equity share capital before acquisition: ₹23,20,18,920 (4,64,03,784 equity shares of ₹5 each)
  • Equity share capital after acquisition: ₹23,20,18,920 (4,64,03,784 equity shares of ₹5 each) - unchanged as warrants are not yet converted
  • Total diluted share/voting capital after acquisition: ₹41,91,57,390 (8,38,31,478 equity shares of ₹5 each) assuming full conversion of all warrants

Additional Information

  • Out of Mr. Dax Francis Theknath's total holding of 96,18,000 equity shares, 61,80,000 shares are pledged
  • The warrants subscribed do not carry voting rights unless converted into equity shares
  • The disclosure assumes that all warrants (3,74,27,694 including this allotment) allotted by the target company are converted
  • The promoter group's diluted shareholding increases to 59.57% after full conversion of the newly allotted warrants