AAA Technologies Limited, a company listed on both NSE and BSE, recently witnessed a significant change in its shareholding pattern and conducted its 25th Annual General Meeting (AGM). Here are the key developments:

Promoter Stake Sale

Anjay Agarwal, the Promoter, Chairman, and Managing Director of AAA Technologies Limited, sold 5,72,829 equity shares, representing 4.47% of the company's total shareholding. The transaction was executed through open market sales in two tranches:

• 1,97,829 shares
• 3,75,000 shares

Following this sale, Agarwal's shareholding in the company decreased from 19.71% to 15.24%. The company has a total of 1,28,26,800 equity shares with a face value of Rs. 10.00 each, amounting to a total equity share capital of Rs. 12,82,68,000.00.

25th Annual General Meeting

AAA Technologies Limited held its 25th AGM through Video Conference (VC) / Other Audio-Visual Means (OAVM). Key highlights of the AGM include:

Attendance and Board Presence

• 39 shareholders participated in the meeting
  • 8 from the promoter and promoter group
  • 31 from the public
• All six directors were present via video conferencing, including:
  • Mr. Anjay Agarwal (Chairman and Managing Director)
  • Mr. Venugopal Dhoot (Whole Time Director and CFO)
  • Mrs. Ruchi Anjay Agarwal (Executive Director)

Key Resolutions

The AGM addressed 11 resolutions, including:

• Adoption of financial statements
• Appointment of M/s. SPML & Associates as Statutory Auditors
• Declaration of a final dividend of Rs. 1.50 per equity share
• Re-appointment of several directors, including Mr. Anjay Agarwal as Managing Director
• Appointment of M/s VKM and Associates as Secretarial Auditor for five years

Voting Process

• The company provided remote e-voting facilities
• E-voting was also allowed during the AGM
• M/s. VKM & Associates, Practicing Company Secretaries, were appointed as scrutinizers for the voting process

The voting results and scrutinizer's report are expected to be declared within 48 hours of the meeting's conclusion and will be available on the company's website and stock exchanges.

AAA Technologies Limited has announced a significant new contract, highlighting the company's growing presence in the IT security sector. The firm, known for its expertise in IT security auditing, has been awarded a contract to conduct a comprehensive security audit of IT infrastructure for a State Level Pollution Control Board.

Contract Details

The contract, valued at approximately Rs 79.00 lakhs, underscores AAA Technologies' capabilities in providing high-level IT security services to government entities. This development is particularly noteworthy as it demonstrates the company's ability to secure contracts from state-level organizations, potentially opening doors for similar opportunities in the future.

Company Credentials

AAA Technologies Limited's selection for this project is backed by its strong credentials in the IT security domain. The company is empanelled by CERT-In (Indian Computer Emergency Response Team) for IT Security Auditing Services, a distinction that likely played a crucial role in securing this contract. This empanelment reflects the company's adherence to stringent security standards and its recognition by a key national agency responsible for dealing with cybersecurity threats.

Regulatory Compliance

In line with its obligations as a publicly listed company, AAA Technologies has promptly disclosed this material event under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This transparency ensures that shareholders and potential investors are kept informed of significant developments that may impact the company's performance.

Company Background

AAA Technologies Limited, headquartered in Mumbai, is an ISO 9001:2015 and ISO 27001:2013 certified company. The company has positioned itself as a player in the IT security and auditing services sector. Its recent accolade as the winner of the Maharashtra IT Awards in the field of Security further cements its reputation in the industry.

This new contract not only adds to AAA Technologies' project portfolio but also potentially strengthens its position in the government sector IT security market. As organizations continue to prioritize cybersecurity, companies like AAA Technologies are well-positioned to capitalize on the growing demand for specialized IT security auditing services.