Thomas Scott (India) Limited — Important, 22-12-2024: Disclosure of material issue

The Board of Directors of Thomas Scott (India) Limited has approved several key initiatives in its recent meeting.

1. The Board has greenlit an increase in the authorized share capital from ₹15 crore to ₹20 crore, allowing for the creation of an additional 50 lakh equity shares.

2. The memorandum and articles of association will be amended accordingly to reflect this change.

3. Approval was given for a preferential issue of equity shares, allowing up to 9,52,375 shares to be issued to non-promoter investors at a price compliant with SEBI regulations.

4. The Board also approved the issuance of up to 6,06,529 warrants, which are convertible into the same number of equity shares, under similar preferential terms.

5. An Extraordinary General Meeting (EGM) will be convened to seek shareholder approval for these propositions, with the details to be finalized by the authorized directors.

These moves are expected to enhance the company's financial flexibility and support future growth initiatives.