Catalyst Trusteeship Encumbers 19.65% Stake in Dev Accelerator

Catalyst Trusteeship Limited, acting as Debenture Trustee for debenture holders, has disclosed the creation of an encumbrance on 1,85,96,640 shares of Dev Accelerator Ltd (DAL). This represents 19.65% of the total diluted share capital. The encumbrance is in connection with the issuance of up to INR 100 crore in senior, listed, secured, redeemable, non-cumulative, non-convertible debentures. The disclosure is made under SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011, due to conditions in the Debenture Trust Deed and Deed of Personal Guarantee, which include maintaining a minimum shareholding by guarantors and restrictions on corporate actions without the trustee's consent.