Board Meeting Decisions on May 27, 2026
California Software Company Limited (CALSOFT) convened its Board of Directors meeting on May 27, 2026, making significant decisions regarding capital restructuring and shareholder obligations. The meeting, held pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, addressed key financial matters affecting the company's capital structure.
OCRPS Redemption Approved
The board approved the redemption of 4,18,700 OCRPS (Optionally Convertible Redeemable Preference Shares) held by Chemoil Advanced MGMT Services Private Limited. The aggregate redemption value stands at ₹4,18,70,000 (approximately ₹4.19 crore). Upon completion of requisite formalities, these OCRPS will be cancelled, simplifying the company's preference share portfolio.
Rights Issue Call Money Extension
Shareholders holding partly paid-up equity shares issued through the Rights Issue will receive a one-month extension for payment of the First and Final Call Money. The board granted this additional timeframe to accommodate shareholders facing payment challenges. However, the approval includes a forfeiture provision—equity shares may be forfeited if the call money remains unpaid after the extended period, in line with applicable laws and the terms of the original issue.
- OCRPS redemption: 4,18,700 shares worth ₹4,18,70,000
- Call money extension period: One additional month
- Forfeiture applicable for non-payment within extended timeline
Administrative Authorizations
The board authorized directors and officers to complete all necessary acts, deeds, and regulatory filings required to implement these decisions. This includes documentation and compliance procedures associated with the OCRPS redemption and the rights issue call money collection process.
Disclaimer: This article is for informational purposes only and should not be construed as financial advice. Investors are advised to review official company filings and consult financial advisors before making investment decisions.