SPA Capital Services Limited has informed the BSE about the death of Ms. Laxmi Devi Parwal, one of the company's promoters. The announcement was made on January 08, 2025, in compliance with SEBI regulations governing listed companies.

Promoter Shareholding Details

Ms. Laxmi Devi Parwal held a significant stake in the company at the time of her death. Her shareholding details are outlined below:

Regulatory Compliance and Impact

The company has filed the necessary intimation under Regulation 30 and 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. According to these regulations, Ms. Parwal will cease to be part of the promoter group following her death, as mandated under Regulation 31A(6)(c).

Share Transmission Process

SPA Capital Services has indicated that the transmission of Ms. Parwal's shareholding to her nominee will be processed in accordance with standard procedures. The company has clarified that her shares will continue to be shown in her name until the transmission process is formally completed. This ensures proper documentation and legal compliance during the ownership transfer.

Corporate Communication

The formal communication was signed by Ms. Vaishnavi Sharma, Company Secretary and Compliance Officer (Membership No.: A76089), from the company's New Delhi office. The notification was addressed to BSE Limited's Corporate Relationship Department, ensuring all stakeholders are informed of this development.

This development represents a change in the company's promoter group structure, though the actual impact on shareholding distribution will depend on the completion of the transmission process to the designated nominee.

SPA Capital Services Limited has successfully obtained shareholder approval for the reclassification of certain promoters to the public category during an Extraordinary General Meeting (EGM) held on December 5, 2025.

Key Details of the EGM

• Date and Time: December 5, 2025, at 11:00 AM
• Venue: 25 C-Block Community Centre, Janakpuri, New Delhi-110058
• Purpose: To consider and approve the reclassification of promoters under Regulation 31A of SEBI (LODR) Regulations, 2015

Voting Outcome

The resolution for reclassification received unanimous approval, with 100% of the votes cast in favor. A total of 23,67,15 votes were recorded through remote e-voting and ballot paper voting. The voting process was overseen by scrutinizer Mohan Upreti.

Approved Reclassification

The shareholders have approved the reclassification of the following individuals from the 'Promoter' category to the 'Public' category:

Regulatory Compliance

SPA Capital Services had confirmed that the outgoing promoters meet all conditions specified in Regulation 31A of SEBI (LODR) Regulations, 2015, including:

• Not holding more than 10% of the total voting rights in the company
• Not exercising control over the affairs of the company
• Not having any special rights through formal or informal arrangements
• Not being represented on the Board of Directors
• Not acting as key managerial personnel in the company

The company had previously received a no-objection letter from BSE Limited for this reclassification request on October 9, 2025.

Implications

This approved reclassification alters the company's promoter structure without changing the overall shareholding pattern. It reflects the reduced involvement of the outgoing promoters in the company's affairs and aligns their classification with their current role.

The successful passing of this resolution marks an important corporate action for SPA Capital Services Limited, potentially impacting its governance structure and public perception.