Metropolis Subsidiary to Issue Convertible Preference Shares

Metropolis Healthcare's wholly-owned subsidiary, Metropolis Quality Solutions Private Limited (MQSPL), has approved the offer and issuance of Optionally Convertible Redeemable Preference Shares (OCRPS). This issuance, aggregating ₹1,00,000, is to Dr. Puneet Kumar Nigam, former Chief Quality Officer. Upon conversion, MQSPL will cease to be a wholly-owned subsidiary but will remain a subsidiary of Metropolis Healthcare. The conversion is expected to occur in tranches over up to 6 years. The transaction is not considered a related party transaction and falls outside the scope of a Scheme of Arrangement.