ended March 31, 2024. The Annual General Meeting is scheduled to be held on Wednesday, August 21, 2024. Dividend Distribution Policy In terms of Regulation 43A of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”), the Company has formulated and adopted a Dividend Distribution Policy with the objective of providing clarity to its stakeholders on the profit distribution strategies of the Company. During the year, the said Policy has been reviewed by the Board of Directors of the Company. The policy hosted on the website of the Company at https://www. heritagefoods.in/policy. Share Capital The Authorised Share Capital of the Company as on March 31, 2024 was ₹500,000,000/- divided into 9,60,00,000 equity shares of ₹5/- each and 20,00,000 preference shares of ₹10/- each. The issued, subscribed and fully paid-up Equity Share Capital as on March 31, 2024 stood at ₹46,39,80,000/- divided into 9,27,96,000 equity shares face value of ₹5/- each. During the year under review, the Company has not issued any shares with differential voting rights, not granted any stock options and not issued any sweat equity share to its employee(s)/ director(s). As on March 31, 2024, none of the Directors of the Company holds any instruments convertible into equity shares of the Company. The Company has not issued equity shares with differential rights as to dividend, voting or otherwise as on March 31, 2024. Unclaimed Rights Equity Shares Suspense Account During the year 2022-23 the Company has issued and made allotment of 4,63,98,000 equity shares of face value of ` 5 each (Issue Shares) for cash at a price of ` 5 per Equity Share (Right Issue Price), aggregating up to ` 23,19,90,000/- to the Eligible Equity Shareholders of the Company on rights basis (Rights Equity Shares) in the ratio of 1 (one) Rights Equity Share for every 1 (one) fully paid-up Equity Share (` 5/- face value) held by the Eligible Equity Shareholders on the record date. The Company has opened demat account in the name of HERITAGE FOODS LIMITED for Rights Shares Unclaimed Suspense Account maintained with Stock Holding Corporation Of India Limited, Reg. Office: 301, Centre Point, Dr. Babasaheb Ambedkar Road, Parel, Mumbai – 400012, Maharashtra, India vide DPID IN301330 and client ID 41280635. Out of the total number of eligible shareholders, 334 shareholders who applied in the rights issue did not get the credit of shares due to their incorrect details provided in the rights issue application and all those shares were transferred to Heritage Foods Limited - Rights Shares unclaimed suspense account. In accordance with the requirement of Clause F of Schedule V of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, the Company reports the following details as of March 31, 2024 in respect of equity shares lying in the suspense account: Particulars No. of Shareholders No. of equity shares Aggregate number of shareholders and the outstanding shares in the suspense account lying at the beginning of the year i.e., April 01, 2023 205 56,633 Number of shareholders who approached listed entity for transfer of shares from suspense account during the year 163 52,776 Number of shareholders to whom shares were transferred from suspense account during the year 163 52,776 Transferred to Investor Education and Protection fund Authority Nil Nil Aggregate number of shareholders and the outstanding shares in the suspense account lying at the end of the year i.e. March 31, 2024 *42 3,857 *Between April 01, 2024 and the date of this report 21 more shareholders holding 2,645 equity shares have approached the Company and those shares were transferred from the Unclaimed Suspense account. Hence as on the date of this report 21 shareholders holding 1,212 equity shares are lying in the Unclaimed rights equity share Suspense account. The voting rights on the shares outstanding in the suspense account as on March 31, 2024 shall remain froze till the rightful owners of such shares claim the shares. Reclassification of Promoters group: During the year under review, The Board of Directors at their Meeting held on May 25, 2023, approved the re-classification for the below mentioned persons from “Promoter Group” category to “Public” category and the same was approved by the shareholders’ on the 31st Annual General Meeting (Shareholders Meeting) held on August 22, 2023. • Mrs. Durga Ramakrishna N P • Mrs. Neelima N P • Mrs. Kathya N P • Mr. N P Ramakrishna • Mr. Sivasankara Prasad Alapati Your Company had made an application for such reclassification to the Stock Exchanges where the Company's shares are Listed i.e., BSE Limited and National Stock Exchange of India Limited on August 28, 2023 and received the approval from BSE Limited, vide ref. no LIST/ COMP/BS/2395/2023-2024 dated December 12, 2023 and National Stock Exchange of India Limited, vide ref. no. NSE/LIST/329 dated December 12, 2023. Board's Report STRATEGIC REVIEW STATUTORY REPORT FINANCIAL STATEMENTS 54 32ND ANNUAL REPORT 2023-24 | HERITAGE FOODS LTD
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