Allotment of Warrants

September 03, 2026 BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai – 400001 Scrip code: 526604 Sub: Outcome of the meeting of the Board of Directors held on Thursday, September 03, 2026. Ref: Regulation 30 of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirement) Regulation, 2015. Dear Sir/Madam, With reference and in continuation to our announcement dated May 18, 2026, and pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”), we wish to inform you that in terms of special Resolution passed by the Members of the Company at their Extra- ordinary General meeting held on, June 14, 2026 and in accordance with the In-principal Approval, granted by the BSE Limited on August 21 2026, the Meeting of Board of Directors (“Board”) of the Company held today i.e. Thursday, September 03, 2026 has approved the following: 1. The allotment of 65,00,000 (Sixty-Five Lakhs) Convertible Equity Warrants on Preferential Basis to the allottee under promoter category at an issue price of Rs 56.84/- per warrant on preferential basis in accordance with the SEBI (Issue of Capital and Disclosure Requirements) Regulations 2018 (“SEBI ICDR Regulations”) to the below mentioned allottee: Sr.No. Name of the Proposed Category of proposed Maximum no. Allottee allottees (Promoter/ Non of securities to - Promoter) be allotted 1 Vinesh Shivji Dholu Promoter 19,50,000 2 Jagdish Shivji Dholu Promoter 19,50,000 3 Shivji Karamrashi Dholu Promoters 6,50,000 4 Jagruti Vinesh Dholu Promoter 9,75,000 5 Parul Jagdish Dholu Promoter 9,75,000 TOTAL 65,00,000 Regd. Office: B-21, Corporate House, opp. Pakwan II, S.G Highway, Bodakdev, Ahmedabad, Gujarat, India – 380054 | CIN: L22100GJ1993PLC020382 Email id: cs@lippisystems.com | Website : www.lippisystems.com Contact No. : +91 85113 35825 Further, we would like to confirm that the Company has received Twenty-Five Percent of consideration amount aggregating to Rs. 9,23,65,000 (Rupees Nine Crore Twenty Three Lakhs Sixty-Five Thousand Only) from the Allottee mentioned above, as required under the SEBI ICDR Regulations. Since, the Company has allotted the convertible warrants, presently there is no change in the paid-up share capital of the Company. Each warrant, so allotted, is convertible into one fully paid-up equity share of the Company having face value of Rs 10/ (Rupee Ten only) each in accordance with the provisions of SEBI ICDR Regulations, on payment of the balance consideration of Rs 42.63/- per warrant ("Warrant Exercise Price"), aggregating to Rs 27,70,95,000 (Rupees Twenty Seven Crores Seventy Lakhs Ninety Five Thousand Only) being Seventy-Five Percent of the aggregate consideration from the Allottees mentioned above pursuant to exercise of conversion option against each such warrant, within Eighteen months from the date of allotment of the warrants. The disclosures as required under regulation 30 of the SEBI Listing Regulations read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 09, 2015, SEBI master circular SEBI/HO/CFD/PoD2/CIR/P/2023/120 dated July 11, 2023, SEBI circular SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, SEBI master circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024 and SEBI master circular HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 updated on January 30, 2026 is enclosed as Annexure - I. 2. Other business agendas. This is for your information and record. The meeting of the Board of Directors commenced at 5:30 P.M. and concluded at 6:45 P.M. Kindly take the same on your records. Thanking you, Yours faithfully, For Lippi System Limited Jagdish Dholu Managing Director DIN: 06683968 Regd. Office: B-21, Corporate House, opp. Pakwan II, S.G Highway, Bodakdev, Ahmedabad, Gujarat, India – 380054 | CIN: L22100GJ1993PLC020382 Email id: cs@lippisystems.com | Website : www.lippisystems.com Contact No. : +91 85113 35825 Encl.: As Above Annexure- I SN Particulars Details 1 Types of Securities Convertible equity warrants carrying a right to subscribe 1 (one) Equity Share per proposed to be issued warrant. 2 Types of Issuances Preferential allotment on a private placement basis in accordance with the provisions of the Companies Act, 2013 and the rules made thereunder and SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended (“ICDR Regulations”) and other applicable laws. 3 Total number of securities 65,00,000 (Sixty Five Lakhs) Convertible Equity Warrants (hereinafter referred to as proposed to be issued or “Warrants”) on preferential basis (“Preferential Offer”) to the Promoter category as the total amount for which mentioned below (“Warrant Holder”/” Proposed Allottee”) for cash consideration at a the securities will be issued price of Rs.56.84/-, aggregating upto Rs.36,94,60,000/- (Rupees Thirty Six Crores (Approximately) Ninety Four Lakhs Sixty Thousand only) The price of the warrants has been determined in accordance with the ICDR Regulations. The preferential issue will be undertaken for cash consideration. In terms of Regulation 170(2) of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, approval of the shareholders is being sought and the Company has undertaken a fresh pricing exercise based on the Relevant Date of May 15, 2026. Accordingly, the issue price of each Convertible Equity Warrant has been determined at Rs.56.84 per warrant. An amount equivalent to 25% of the warrant issue price has been received on 3rd September, 2026, from the proposed allottees pursuant to the earlier shareholders' approval and in-principle approval granted by BSE Limited. Upon obtaining fresh shareholders' approval under Regulation 170(2) of the SEBI ICDR Regulations, the amount already received shall continue to be appropriated towards the subscription consideration of the warrants. The balance consideration, together with any differential amount arising on account of the revised issue price, shall be payable at the time of exercise of the warrants in accordance with the applicable provisions of the SEBI ICDR Regulations. The price of the warrants and the number of Equity Shares to be allotted on conversion of warrants shall be subject to appropriate adjustments as permitted under applicable laws. 4 Name of the Investors As per Schedule -I 5 Post allotment of The equity shares are proposed to be allotted to Promoters. Details of the shareholding securities- outcome of the of Investors in the Company, prior to and after the proposed Preferential Issue, are as subscription under: As per Schedule – I 6 Issue Price Rs.56.84/- (Rupees Fifty Six and Eighty Four Paisa Only) per warrant Regd. Office: B-21, Corporate House, opp. Pakwan II, S.G Highway, Bodakdev, Ahmedabad, Gujarat, India – 380054 | CIN: L22100GJ1993PLC020382 Email id: cs@lippisystems.com | Website : www.lippisystems.com Contact No. : +91 85113 35825 SN Particulars Details 7 Number of Investors 5 8 In case of convertibles — The tenure of the warrants shall not exceed 18 (eighteen) months from the date of intimation on conversion allotment. Each warrant shall carry a right to subscribe 1 (one) Equity Share per of securities or on lapse of warrant, which may be exercised in one or more tranches during the period the tenure of the commencing from the date of allotment of warrants until the expiry of 18 (eighteen) instrument; months from the date of allotment of the warrants. In the event that, a warrant holder does not exercise the warrants within a period of 18 (Eighteen) months from the date of allotment of such warrants, the unexercised warrants shall lapse and the amount paid by the warrant holders on such Warrants shall stand forfeited by the Company. 9 Any cancellation or Not Applicable termination of proposal for issuance of securities including reasons thereof. Schedule – I Sr. Name of Pre issue Post Addition Post issue shareholding No [Showing first 8,000 characters — download PDF for full document]