California Software Board Meeting Outcomes
California Software Company Limited (CALSOFT) board of directors convened on 27 May 2026 and approved several corporate actions as per Regulation 30 of the SEBI (LODR) Regulations, 2015. The meeting addressed matters related to outstanding convertible instruments and shareholder obligations on partly paid-up shares.
OCRPS Redemption Approved
The board greenlit 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. Upon completion of the required formalities, the company will make the payment and proceed with cancellation of these preference shares.
Rights Issue Call Money Extension
Directors approved a one-month extension for payment of the First and Final Call Money in respect of partly paid-up equity shares issued through the Rights Issue. This extension provides shareholders additional time to fulfill their payment obligations. The board also granted approval for forfeiture of such partly paid-up equity shares if shareholders fail to remit the call money within the extended period, in line with applicable laws and the terms of the issue.
Administrative Authorizations
The board authorized directors and officers to undertake all necessary acts, deeds, and regulatory filings to give effect to these decisions. The company is expected to complete the prescribed formalities in accordance with SEBI regulations.
California Software Company Limited trades on the BSE. Investors and shareholders are advised to monitor official company announcements for further updates on the completion of these corporate actions.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investors should exercise their own judgment or consult with a SEBI-registered investment advisor before making investment decisions.