In a board meeting held on Friday, December 20, 2024, GACM Technologies Limited (formerly Stampede Capital Limited) made several important decisions regarding its corporate governance and financial strategy. The key decisions included the withdrawal and cancellation of the allotment of convertible equity warrants on a preferential basis and the appointment of a new non-executive director to strengthen the company’s management team.

Withdrawal and Cancellation of Convertible Equity Warrants

The Board of Directors withdrew and cancelled the preferential allotment of 646,994,500 convertible equity warrants, which were intended to be issued to both promoters and non-promoters. The initial approval for the allotment of these warrants was granted by the BSE and NSE in late November 2024. However, due to a significant price difference between the allotment price of Rs. 1.45 and the market price at the time, the prospective allottees decided not to subscribe to the warrants. As a result, the Company decided to rescind the issue.

This cancellation has been made following the unavoidable circumstances of market volatility, and the company has notified both the BSE and NSE to revoke the preferential issue of the warrants.

Appointment of Ms. Sai Naga Kathyayani Mugata

In a positive move to enhance its leadership, GACM Technologies appointed Ms. Sai Naga Kathyayani Mugata as a Non-Executive, Non-Independent Director of the company. Ms. Mugata, who holds DIN: 10828042, brings over 8 years of experience in the Information Technology field, particularly in Electronics and Communication Engineering. As a young professional, her expertise is expected to provide a fresh perspective in navigating the ever-evolving technical environment.

Additionally, Ms. Mugata has been appointed as a member of the Audit Committee, Nomination and Remuneration Committee, and the Stakeholders Relationship Committee. Her appointment will play a significant role in strengthening the company’s governance and operational efficiency.

Mr. Mugatha Narendra Babu Elevated to Executive Director & CFO

The Board also made an important change in the executive team, designating Mr. Mugatha Narendra Babu as the Executive Director and Chief Financial Officer (CFO) of the company. This decision highlights the Board’s commitment to strengthening its financial leadership and operational oversight.

Key Details of the Board Meeting:

• Meeting Date: December 20, 2024
• Location: Kura Towers, Begumpet, Hyderabad
• Time: Commenced at 11:30 AM IST and concluded at 12:30 PM IST
• Key Resolutions: Withdrawal of preferential allotment of convertible warrants and director appointments

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