String Metaverse Ltd

Resigning director

• Name and designation: Sethurathnam Ravi, Chairman & Non-Executive Non-Independent Director.
• Effective date of resignation: Close of business hours Sept 30, 2026.
• Reason for resignation: Professional commitments and inability to devote required time.
• No other material reasons for resignation.
• Cessation as Chairman of the Board effective Sept 30, 2026.
• Impact: Chairman position on the board will be vacant.

String Metaverse Ltd closes trading window from 01st October, 2026 until 48 hours after the declaration of the Unaudited Financial Results for the quarter ended September 30, 2026.

AGM Details

• AGM held on 25 September 2026 at 11:30 IST via VC/OAVM.
• Voting cut-off date for members: 18 September 2026.

Key Resolutions

• Item 1: Ordinary resolution to adopt audited financial statements for year ended 31 March 2026.
• Item 2: Ordinary resolution for reappointment of director by rotation.
• Item 3: Special resolution to raise funds through permissible modes.
• Item 4: Special resolution for borrowing powers and creation of security on assets.
• Item 5: Special resolution to provide loans/guarantees to persons in which directors are interested.
• Item 6: Special resolution to make investments, loans, guarantees, and securities.
• Item 7: Special resolution for sale/lease/disposal of subsidiary assets.
• Item 8: Ordinary resolution for material related party transactions.

Voting results

• All resolutions passed with requisite majority; minimal against votes observed.
• Item 1: Passed; small number against.
• Item 2: Passed; small number against.
• Item 3: Passed; small number against.
• Item 4: Passed; small number against.
• Item 5: Passed; small number against.
• Item 6: Passed; small number against.
• Item 7: Passed; small number against.
• Item 8: Passed; small number against.

Dividend

• No dividend proposed or declared.

Directors

• Meenavalli Krishna Mohan reappointed by rotation.

Auditors

• No auditor appointments or changes disclosed in this AGM.

Material Related Party Transactions

• Approval of material related party transactions approved; counterparties/values not disclosed in excerpt.

AGM Details

• Date and time: 25 September 2026 at 11:30 IST.
• Mode: VC/OAVM.
• Meeting duration: 11:30 AM to 12:05 PM.
• Voting eligibility cut-off: 18 September 2026.
• Meeting concluded: 12:05 PM IST.

Resolutions Put to Vote

• Adoption of audited standalone and consolidated financial statements for FY 2025-26.
• Re-appointment of Mr. Meenavalli Krishna Mohan as Director, retiring by rotation.
• Approval to raise funds through permissible modes.
• Borrowing beyond limits and creation of security on assets.
• Providing loans, guarantees, or securities to persons in whom directors are interested.
• Investments, loans, guarantees, and securities under Section 186.
• Sale, lease, transfer, or disposal of undertakings/subsidiaries/assets.
• Approval of material related party transactions with related parties.

Voting Results

• Voting results to be submitted separately with Scrutinizer’s Report.

Dividend

• Dividend: Not proposed at this AGM.

Directors

• Director re-appointment: Krishna Mohan, retiring by rotation, eligible for re-appointment.

Auditors

• Statutory Auditors: Gorantla & Co. attended; no appointment changes disclosed.

Material Related Party Transactions

• Resolution 8 relates to approval of material related party transactions with related parties.

Resolution overview

• Resolution: Special permission to issue up to 83,203,383 equity shares on a preferential basis.
• Shares issued at ₹8.85 per share, including ₹7.85 premium.
• Proposed allottees: 21 non-promoter entities.
• Total consideration up to ₹73.63 crore.
• Minimum price fixed at ₹8.85; VWAP-based pricing used.
• Relevant Date for pricing: 15 September 2026.
• Lock-in and demat requirement as per ICDR rules; listing on stock exchanges.
• Post-issue total shares: 1,30,31,13,154; promoter stake 70.17%.
• Public shareholding rises to 29.83%.
• Timeframe: allotment within 15 days of passing the resolution.
• Use of proceeds: working capital, project development, overseas subsidiaries, strategic investments, general corporate.
• Promoters and KMPs not subscribing; no change in control.
• Board authorized to modify terms and execute necessary documents.
• Listing on BSE upon allotment; subject to approvals.
• No convertible securities; Relevant Date 15 Sep 2026.
• EGM date: 15 Oct 2026; Cut-off date: 8 Oct 2026.
• No promoter/group or director subscription; none.
• Approvals: subject to regulatory approvals and BSE listing.

Investor name correction

• Corrects investor name from Krishna Commodities & Derivatives Pvt Ltd to Karishma Commodities and Derivatives Private Limited.
• Number of equity shares proposed for the corrected investor remains 338,983.
• Pre-issue shareholding remains NIL; post-issue is 338,983.
• There is no change to issue price, size, category, or use of proceeds.
• Annexure-1 reflects the corrected name; Board Outcome remains valid.

Issue details

• Fully paid equity shares of ₹1 each proposed via private preferential issue.
• Up to 83,203,383 shares at ₹8.85 per share, ₹73,63,49,939 total.

Allottees

• 21 non-promoter allottees; no promoter allocations.
• Post-issue total equity shares: 83,331,716.
• Pre-issue holdings disclosed for one allottee: 1,28,333 shares.

Pricing & payment

• Issue price ₹8.85 per share; includes ₹7.85 securities premium.
• Consideration is cash on allotment.
• Total fundraise up to ₹73.63 crore.

Approvals & process

• Board approved preferential issue, subject to shareholder approval.
• EGM scheduled for 15 October 2026 to seek approvals.
• Scrutinizer appointed for e-voting: M/s Balaramakrishna & Associates.
• Regulatory and other approvals as necessary.

EGM logistics

• EGM via VC/OAVM on 15 Oct 2026 at 11:30 IST.

String Metaverse Limited: Trading Window closed from 15 September 2026 ahead of Board Meeting on 17 September 2026; shall remain closed until expiry of 48 hours after the outcome of the aforesaid Board Meeting is made generally available to the public.

Meeting Details

• Board meeting scheduled for 17 September 2026; time and venue not disclosed.

Key Agenda Items

• Consider and approve fund-raising via issue of equity shares and/or convertible securities through preferential issue or private placement.
• Draft Notice for Extra-Ordinary General Meeting (EGM) to seek shareholders' approval for the fund-raising.

Other Notes

• Trading window closed from 15 September 2026 until 48 hours after the outcome is made public.