Key Quantitative Figures
The board will consider allotment of 28,21,411 equity shares through conversion of fully convertible warrants. This comprises:
- 22,69,288 equity shares to promoters
- 5,52,123 equity shares to non-promoters
Dates of Action
- Shareholder approval obtained: January 02, 2025 (Extra Ordinary General Meeting)
- Initial warrant allotment: February 21, 2025 (Board meeting)
- Scheduled board meeting: July 10, 2026 at 11:00 AM
- Disclosure date: July 02, 2026
Parties Involved
- Issuer: South West Pinnacle Exploration Limited
- Warrant holders: Promoters and non-promoters
- Regulatory authorities: SEBI, National Stock Exchange of India Ltd., Bombay Stock Exchange Limited
- Company representative: Vaishali, Company Secretary & Compliance Officer
Purpose and Rationale
Conversion of fully convertible warrants into equity shares upon exercise of option by warrant holders and receipt of the balance 75% of the issue price.
Meeting Details
The board meeting will be conducted through audio-visual means (Google Meet) and will also discuss ongoing business propositions or any other business with the permission of chair.
Historical Context
The warrant conversion follows a special resolution passed by shareholders in the Extra Ordinary General Meeting dated January 02, 2025, and initial allotment of 28,21,411 convertible warrants made by the Board of Directors on February 21, 2025.