Key Board Approvals:
1. Acquisition of Stake in AutoPe Payment Solutions Limited via Share Swap Arrangement
- The Board approved the acquisition of 286,617 equity shares of AutoPe Payment Solutions Limited
- Agreed valuation: ₹648.60 per equity share of AutoPe
- Total consideration value: Approximately ₹18.59 crore (286,617 shares × ₹648.60)
- Acquisition method: Share swap arrangement involving issuance and allotment of 929,500 equity shares of Novus Loyalty Limited
- Issue price of Novus Loyalty shares subject to finalization of relevant date
- Approved the share swap ratio and valuation methodology
- Authorized execution of definitive agreements and all necessary documents
- Subject to obtaining requisite statutory, regulatory and shareholders' approvals
2. Convening of Extra-Ordinary General Meeting (EGM)
- The Board approved convening an EGM of members to seek approval for:
- The proposed acquisition through Share Swap Arrangement
- Consequential issuance and allotment of equity shares on a preferential basis
- Mr. Deepak Tomar, Managing Director, authorized to finalize the EGM date and all relevant matters regarding calling the EGM
Authorization:
The Board authorized the Directors of the Company to take all necessary steps and actions required to give effect to the proposed acquisition.
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