Heads UP Ventures Limited — Important, 16-12-2024: Updates

The Board of Directors of Heads Up Ventures Limited has taken note that the delay in appointing a Company Secretary and Compliance Officer was unintentional and beyond the company's control. Following a search initiated in June 2024, a candidate was identified who was willing to join shortly. However, due to adverse publicity surrounding the arrest of a company promoter in an unrelated case, the candidate withdrew from the position. Despite the promoter’s release and the arrest being ruled illegal, the negative publicity impacted the company's ability to finalize the appointment. The company seeks a waiver for a fine of ₹47,000 each from the NSE and BSE, with an application submitted to NSE while the BSE filing is pending due to portal issues. Shareholders should watch closely as the resolution of this issue could affect the company’s compliance standing and operational stability.