Neueon Towers Limited — Board Meeting, 09-12-2024: Outcome of Board Meeting

The board meeting has approved a significant restructuring of the company's paid-up share capital. The face value of equity shares has been reduced from ₹10 to ₹1, resulting in a total of 5.65 crore equity shares. Additionally, the total Cumulative Redeemable Preference Shares (CRPS) capital of ₹1.27 crore will be entirely extinguished. Following this restructuring, erstwhile promoters will be reclassified to the public category, impacting the ownership structure. These decisions are part of the company's approved resolution plan to strengthen its financial position.