Hypersoft Technologies Ltd. Announces Preferential Allotment of 6,82,00,000 Equity Shares Through Share Swap

Hypersoft Technologies Limited has announced the allotment of 6,82,00,000 equity shares on a preferential basis for consideration other than cash through share swap. The company is purchasing 6,82,00,000 shares of Nexus Innovate Pte. Ltd. and in consideration is issuing 6,82,00,000 shares of the Company to Narra Purna Babu, Cyberpath Systems Pte. Ltd., Quantum Path Solutions Pte. Ltd., and Quotrix Solutions Pte. Ltd. This allotment has resulted in Nexus Innovate Pte. Ltd. becoming a wholly owned subsidiary of Hypersoft Technologies Limited and Nexus Innovate LLC becoming a wholly owned step-down subsidiary. The delay in submission of shareholder complaints was noted by the Board and they advised strengthening of internal compliance monitoring mechanisms to avoid recurrence.