Nazara Technologies Limited — Important, 14-11-2024: Updates

Shareholders at Nazara Technologies Limited approved several special resolutions at the recent Extraordinary General Meeting. These resolutions include the issuance of equity shares for both cash and non-cash consideration on a preferential basis.

The company has submitted applications to the stock exchanges for in-principle approval for these proposed preferential issues. Following requests for clarifications from the National Stock Exchange, Nazara has obtained Supplementary Valuation Reports from a registered valuer, addressing valuation concerns that incorporate an income approach as suggested by the NSE. However, this adjustment does not alter the previously established valuations.

It's also noted that Influencers Interactive Inc., listed as a proposed allottee for the shares, failed to provide necessary documentation, leading Nazara to halt the allotment of shares to this entity. Investors should monitor these developments closely as they can influence the company’s capital structure and financial strategy moving forward.