String Metaverse Limited has accepted the resignation of Mr. Rohit Reddy Samala from the position of Non-Executive Non-Independent Director effective June 16, 2026. The director stepped down citing professional obligations as the reason for his departure. The disclosure was made to BSE Limited pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Resignation Details

The company informed the stock exchange that Mr. Rohit Reddy Samala (DIN: 03273674) tendered his resignation from the board. The cessation of his directorship took effect immediately from the date of submission.

String Metaverse Limited, formerly known as Bio Green Papers Limited, is headquartered in Hyderabad, Telangana. The filing was submitted by M. Chowda Reddy, Company Secretary & Compliance Officer.

String Metaverse Limited has fixed Friday, June 19, 2026, as the record date to determine the eligibility of public shareholders for the issuance of bonus equity shares. The company will issue these shares in a ratio of 2:9, meaning eligible public shareholders will receive two bonus equity shares of Re. 1/- each for every nine fully paid-up equity shares of Re. 1/- each held as on the record date. This issuance is aimed at achieving and maintaining the prescribed 25% Minimum Public Shareholding (MPS) requirements.

The bonus shares will be issued exclusively to eligible public shareholders holding equity shares as on the record date. Promoter and Promoter Group shareholders are not entitled to receive any bonus equity shares pursuant to this issuance. The deemed date of allotment for these bonus equity shares is scheduled for Monday, June 22, 2026, in accordance with SEBI Circular No. SEBI/CIR/CFD/PoD/2024/122 dated September 16, 2024.

Shareholders whose names appear in the Register of Members of the company for physical holdings and in the records of the Depositories as beneficial owners for dematerialized holdings as at the close of business hours on June 19, 2026, will be entitled to receive the bonus shares. The company had previously secured shareholder approval for this capital restructuring via a postal ballot process which concluded on June 4, 2026.

Key Dates and Ratios

The issuance follows the approval of a special resolution passed via postal ballot, where 100% of the valid votes cast were in favor of the proposal. The voting process was managed by scrutinizer Balaramakrishna & Associates, with 126 members participating representing 82,42,00,654 shares. The scrutinizer's report confirming the passage of the resolution was submitted to the stock exchanges on June 5, 2026.

Dr. Raghavendra Hunasgi, Chief Executive Officer (CEO) of String Metaverse Limited, stated that the approval represents an important milestone in enhancing public participation and achieving the prescribed Minimum Public Shareholding norms. He emphasized the company's commitment to creating long-term value for public investors while strengthening its capital market profile.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE958L01034/8924b56d-dbd8-47ee-a3dd-a88ea4233ab5.pdf