ARSS Infrastructure Projects: Roger Bravo exits nominee role for 81.55% shares

ARSS Infrastructure Projects Ltd has disclosed a material change concerning equity shares allotted under an approved Resolution Plan. Roger Bravo Secured Development Fund, initially nominated by Successful Resolution Applicant (SRA) Ocean Capital Market Limited (OCML) to hold 7,35,00,000 equity shares (approximately 81.55% of paid-up capital), has expressed its wish to withdraw from this nominee role. Roger Bravo has provided a no-objection to OCML or another nominee of OCML substituting it as the holder of these shares. The company, in consultation with the SRA, will proceed with the necessary steps for this substitution, which is expected to change the nominee shareholder but not the total share capital of the company. The application for listing these shares is still pending.