Deccan Gold Mines Limited has successfully allotted 8,65,000 equity shares under its stock incentive plan 2024, marking a significant milestone in the company's employee benefit initiatives. The allotment was approved by the Nomination & Remuneration Committee through a resolution passed by circulation on February 09, 2026, in compliance with SEBI regulations.

Share Allotment Details

The company allotted 8,65,000 equity shares of face value Rs. 1/- each to eligible employees upon exercise of stock options under the Deccan Gold Mines Limited stock incentive plan 2024. The shares were issued at an exercise price of Rs. 20/- per share with a premium of Rs. 19/- each.

Impact on Share Capital

The allotment has resulted in an increase in the company's paid-up equity share capital. The capital structure has been enhanced as detailed below:

Stock Incentive Plan Overview

The Deccan Gold Mines Limited stock incentive plan 2024 is designed to provide employee benefits in compliance with SEBI regulations. The plan encompasses comprehensive terms for employee stock options with specific vesting and exercise provisions.

Regulatory Compliance

The allotment was conducted in full compliance with Regulation 30 of SEBI LODR Regulations and Regulation 10(c) of SEBI Share Based Employee Benefits and Sweat Equity Regulations, 2021. The newly issued shares will rank pari passu with existing equity shares and carry the ISIN number INE945F01025. The company has filed the necessary disclosures with BSE Limited under scrip code 512068, ensuring complete transparency and regulatory adherence.

Deccan Gold Mines Limited has announced an Extra-Ordinary General Meeting (EGM) scheduled for February 20, 2026, seeking shareholder approval for a strategic deviation in the utilisation of its Rights Issue proceeds. The meeting will be conducted through Video Conferencing at 11:30 a.m. IST, addressing critical investment decisions under Regulation 30 of the Securities Exchange Board of India Listing Regulations.

Rights Issue Proceeds and Proposed Utilisation

The company seeks approval for deviation in utilisation of Rs. 314.70 crores from its Rights Issue proceeds. The Rights Issue received in-principle approval from the Bombay Stock Exchange vide letter no. LOD/Rights/KD/FIP/1267/2025-26 dated November 28, 2025, with equity shares listed on December 31, 2025.

The original utilisation plan included repayment of Inter Corporate Deposits, investment in subsidiary Avelum Partner LLC for the Altyn Tor Gold Mine in Kyrgyzstan, funding strategic acquisitions, and general corporate purposes. Following repayment of outstanding dues to the Hira Group with accrued interest, a portion of the Rights Issue proceeds remains unutilised.

Strategic Investment in Associate Company

The proposed deviation involves investing in the rights issue of Geomysore Services India Private Limited, an associate company where Deccan Gold currently holds 10,53,730 equity shares representing 26% of paid-up equity share capital. The company recently acquired 14,127 additional equity shares of Geomysore at Rs. 1,600 per share, demonstrating the strategic importance of this investment.

Voting and Compliance Procedures

The EGM will address a special resolution requiring shareholder approval. Remote e-voting facility will be available through MUFG Intime India Private Limited, with specific timelines established for the voting process.

E-voting Schedule:

• Commencement: 9:00 a.m. IST on February 16, 2026
• Conclusion: 5:00 p.m. IST on February 19, 2026
• Cut-off Date: February 13, 2026
• Scrutinizer: CS Jayesh M Shah (FCS 5637), Partner of M/s. Rathi & Associates

Shareholders can participate through various platforms including NSDL, CDSL, and InstaVote systems. The company has appointed MUFG Intime India Private Limited as the registrar and share transfer agent for e-voting services.

Strategic Rationale and Board Recommendations

The Board of Directors emphasises that participation in Geomysore's rights issue serves multiple strategic objectives. The investment aims to prevent dilution of the existing 26% shareholding while enhancing exposure to the Jonnagiri Gold Project, a near-producing gold asset that has demonstrated technical and operational viability through trial production.

The Board assures shareholders that utilising a portion of the unutilised Rights Issue proceeds for this purpose will not adversely impact ongoing and proposed projects. The company continues evaluating alternative funding options, including debt and other capital-raising avenues, to meet broader funding requirements.

Meeting Logistics and Documentation

The EGM notice and related documents are available on the company's website at https://deccangoldmines.com/ and BSE website at www.bseindia.com . Given the virtual nature of the meeting, proxy appointments are not available, and shareholders must participate through the designated video conferencing platform.

Corporate members intending to participate through authorised representatives must send certified copies of board resolutions and power of attorney to info@deccangoldmines.com . The resolution will be deemed passed on February 20, 2026, subject to receipt of requisite votes, with results communicated to the stock exchange within two working days.