Clean Science and Technology Limited announced an inter-se transfer of equity shares within its promoter group. Smt. Alaknanda Boob Business Trust transferred 58,00,000 shares, and Asha Ashok Boob transferred 8,38,000 shares. This transaction, totaling 66,38,000 shares (6.25% of diluted share capital), was executed as a gift and is exempt from open offer requirements under SEBI regulations. The aggregate holding of the promoter group remains unchanged.
Inter-se Promoter Share Transfer Announced
Clean Science and Technology Limited has officially informed the stock exchanges regarding a significant inter-se transfer of equity shares among its promoter group. This transaction, facilitated as a gift, involves a substantial number of shares and aims to streamline the family’s assets and businesses. The disclosure was made in accordance with the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
Transaction Details and Exemptions
The transfer comprises 58,00,000 equity shares from Smt. Alaknanda Boob Business Trust and 8,38,000 equity shares from Asha Ashok Boob. In total, 66,38,000 equity shares were transferred, representing 6.25% of the company’s diluted share capital. This transaction falls under the exemption provided by Regulation 10(1)(a)(ii) of the SEBI SAST Regulations, meaning it is exempt from making a mandatory open offer. The aggregate holding of the promoter and promoter group remains consistent both before and after this transfer.
Shareholding Changes within Promoter Group
Following the transaction, the shareholding of Smt. Alaknanda Boob Business Trust has increased significantly to 58,00,100 shares, accounting for 5.46% of the total share capital. Asha Ashok Boob’s holding has also seen an increase, reaching 1,10,36,392 shares, which constitutes 10.38% of the total share capital. Conversely, the transferor, Nilima Krishnakumar Boob, has seen a substantial decrease in her shareholding from 67,29,986 shares (6.33%) to 91,986 shares (0.09%).
Note on Further Transfers
It is noted that Asha Ashok Boob is currently involved in another inter-se transfer, where she is proposing to gift 1,01,00,000 shares to AAB Business Trust. Upon completion of this prospective transfer, her final shareholding is anticipated to be 9,36,392 shares, representing 0.88% of the total share capital.
Source: BSE
