Other Scheme of Arrangement::Particulars of the Event Relating to Adjustment of the Conversion Price

Issuer & Securities

Issuer/ Manager
3I INFOTECH LIMITED
Securities
3IINFOTECUS$125.356M5%CB170426 - XS0769181982 - 2CCB
Stapled Security
No

Announcement Details

Announcement Title
Other Scheme of Arrangement
Date &Time of Broadcast
11-Aug-2021 04:01:46
Status
New
Announcement Sub Title
Particulars of the Event Relating to Adjustment of the Conversion Price
Announcement Reference
SG210811OTHRHMTQ
Submitted By (Co./ Ind. Name)
3i Infotech Limited
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below-Refer to the Online help for the format)
The Scheme of Arrangement between the Company and its shareholders, which provides for a reduction in the share capital of the Company and related matters has been approved by the National Company Law Tribunal and been made effective.
This Scheme provides for a reduction of share capital of the Company, which shall be effected by reducing the face value of the Shares of the Company from INR 10 to INR 1 and immediately upon reduction in face value of such Shares, the consolidation of 10 (ten) Shares of the Company each with face value of INR 1 into 1 (one) Share of the Company with a face value of INR 10 (Share Consolidation). The Share Consolidation shall be implemented on the share capital and shareholding pattern of the Company as on August 31, 2021 (Share Consolidation Date).
In order to give effect to the Scheme and in accordance with the procedures of the Indian stock exchanges and depositories, the ISIN of the Shares of the Company will be suspended starting from one business day prior to the Share Consolidation Date (such date, the Suspension of Trading Date) until the completion of the Share Consolidation and the Shares as consolidated being listed and admitted to dealings on the Indian stock exchanges under a new ISIN (such date, the Recommencement of Trading Date). The Company will provide Bondholders with notice of the Recommencement of Trading Date.
Adjustment for the Share Consolidation
The Share Consolidation requires an adjustment to the Conversion Price under Condition 6.3.1. The Conversion Price currently in effect is INR 16.50. The Conversion Price will be adjusted to INR 165.00 on the Share Consolidation Date (Adjusted Conversion Price).
Existing Conversion Notices and Conversion Notices received on or prior to August 17, 2021:
With respect to existing Conversion Notices pending on the date of this Notice and any conversion notice received on or prior to August 17, 2021, the Company will endeavour to complete the allotment and listing of the shares with respect to such Conversion Notices prior to the Suspension of Trading Date. Such conversions will be made using the current conversion price of INR 16.50 and the relevant shares issued will be consolidated pursuant to the Share Consolidation mentioned above.
Conversion Notices received after August 17, 2021:
With respect to any Conversion Notices received after August 17, 2021 until the Suspension of Trading Date (when a Closed Period is expected to commence), the Company will endeavour to complete the conversion and allotment and listing of the shares prior to the Suspension of Trading Date, however, if the Company is unable to the complete such conversion and allotment and listing of the shares prior to the Suspension of Trading Date, the allotment and listing of such shares will be completed as soon as practicable on or after the Recommencement of Trading Date using the Adjusted Conversion Price reflecting the Share Consolidation.
A copy of the Scheme can be obtained from the website of the Company at this link: https://www.3i-infotech.com/wp-content/uploads/downloads/2020/10/B-Copy-of-Scheme-of-for-Arrangement.pdf

Attachments

XS0769181982-Notice to FCCB holders.pdf
Total size =195K