Scan Steels Ltd — Important, 01-12-2025: Company Update

Scan Steels' board has approved the allotment of 20.42 lakh Optionally Convertible Redeemable Preference Shares (OCRPS), each with a face value of Rs. 10. These shares were issued to three investors, converting 28.31 lakh existing Non-Convertible Redeemable Preference Shares. Each OCRPS can be converted into 1.05 equity shares of Rs. 10 face value by August 11, 2035. This action restructures the company's preference shares and offers future equity conversion.