Womancart Ltd has issued a corrigendum to its earlier Notice of Extra Ordinary General Meeting (EGM) dated 1st January 2025, scheduled for 29th January 2025. This corrigendum corrects certain aspects related to the preferential allotment of shares and warrants. It is important for the shareholders of Womancart Ltd to take note of these developments, which aim to ensure transparency and alignment with the SEBI ICDR Regulations.

Key Updates in the Corrigendum

1. Valuation Report Correction
   In the original EGM notice, a valuation report by the independent valuer, Mr. Sanjeet Kumar Sharma, was mentioned. The corrigendum states that this report should be ignored, as no valuation is required under Regulation 166A(1) of SEBI ICDR Regulations, because no proposed allottee or person acting in concert will receive more than 5% of the fully diluted capital of Womancart Ltd.

2. Clarification on Promoter and Director Subscription Intentions
   The corrigendum also updates the intent of the Promoters, Directors, or Key Managerial Personnel regarding their subscription to the preferential allotment.

   • Except for Madhu Sudan HUF (Promoter Group), none of the promoters are interested in subscribing to the equity shares or convertible warrants.
   • None of the Directors or Key Managerial Personnel have shown any intention to participate in the preferential allotment.

3. Update on Proposed Allottee
   The table detailing the proposed allottees has been updated, particularly regarding Madhu Sudan HUF, who will remain in the Promoter Group. The revised table also lists other proposed allottees and their respective pre-issue shareholding and post-issue percentage.

4. Revised Price Re-computation
   A revision in Para XV indicates that the company will recompute the price of the equity shares and warrants in accordance with the SEBI (ICDR) Regulations. If any dues are unpaid, the shares and warrants will remain locked-in until the payment is made.

5. Practicing Company Secretary’s Certificate
   The corrigendum also specifies that a certificate from Ms. Priya Binani, a Practicing Company Secretary, has been obtained to ensure that the preferential allotment complies with the SEBI ICDR Regulations. The certificate will be available for inspection on the company’s official website: www.womancart.in.

6. Identity of Natural Persons
   The corrigendum clarifies that the details of natural persons who are the ultimate beneficial owners of the shares proposed to be allotted are provided for informational purposes. The company confirms that these proposed allottees will become beneficial shareholders of the equity shares being allotted.

No Change in Control

The company emphasizes that there will be no change in control resulting from this preferential issue of equity shares and convertible warrants.

Conclusion

This corrigendum serves as an important update to the earlier Notice of EGM and is essential for shareholders to understand the corrections and clarifications made, particularly regarding the preferential allotment process and the intention of promoters and directors.

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