Scan steels Limited has announced a board meeting to consider the conversion of Optionally Convertible Redeemable Preference Shares (OCRPS) into equity shares. The company informed BSE Limited about this development through a formal intimation dated April 23, 2026.

Board Meeting Details

The board meeting has been scheduled with specific parameters for the conversion process:

Conversion Process

The meeting will focus on the allotment of equity shares upon conversion of existing issued OCRPS of the company. These preference shares were originally allotted on a preferential basis and are now being considered for conversion into equity shares.

The conversion and subsequent allotment will be conducted in accordance with:

• Terms of issue of the OCRPS
• Applicable provisions of the Companies Act, 2013
• SEBI regulations

Regulatory Compliance

The intimation was sent to BSE Limited under Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company's shares are listed on BSE with the code 511672.

The communication was signed by Prabir Kumar Das, Company Secretary & Compliance Officer (Membership No.: F6333), ensuring proper authorization and compliance with regulatory requirements. The company maintains its registered office in Mumbai and corporate office in Bhubaneswar.

Scan Steels Limited has informed the Bombay Stock Exchange (BSE) that the Escrow Payment Mechanism requirements under SEBI regulations are not applicable to the company. The clarification was submitted on April 15, 2026, in response to BSE's request for details relating to the Escrow Payment Mechanism.

Company's Position on Escrow Requirements

In its communication to BSE, Scan Steels Limited clearly stated that the requirement for submission of the Escrow Payment Mechanism does not apply to the listed entity. The company explained that it has not issued any instruments or arrangements for which the said mechanism would be applicable under the relevant SEBI regulations.

Regulatory Compliance Clarification

The company emphasized that since it does not have any instruments or arrangements that fall under the purview of the Escrow Payment Mechanism requirements, no disclosure or submission is required in this respect. This clarification helps establish the company's compliance status with respect to specific SEBI regulations governing escrow arrangements.

Corporate Communication Details

The clarification was signed by Prabir Kumar Das, Company Secretary and Compliance Officer (Membership No: F6333), and submitted to the General Manager-Listing, Department of Corporate Services at BSE Limited. The company requested BSE to take the clarification on record, ensuring proper documentation of its regulatory position.

This communication demonstrates Scan Steels Limited's proactive approach to regulatory compliance and transparent communication with stock exchange authorities regarding applicable regulations and requirements.