GACM Technologies Limited — Others, 20-12-2024: Appointment

The Board of GACM Technologies Limited has approved the cancellation of the allotment of 64.7 crore convertible equity warrants due to a significant price disparity between the allotment price and the market price. In a separate decision, Ms. Sai Naga Kathyayani Mugata has been appointed as a Non-Executive and Non-Independent Director, bringing over 8 years of experience in Information Technology, which could enhance the company’s technical capabilities. Additionally, Mr. Mugatha Narendra Babu has been designated as Executive Director & CFO. This restructuring could reflect a strategic shift aimed at stabilizing governance and attracting investor confidence. Positive outlook anticipated as leadership changes may drive operational improvements.