FIRST AMENDMENT TO MEMORANDUM OF UNDERSTANDING Amongst DIGITAL PAYMENTS PROCESSING LIMITED (“Company”) AND My Mobile Payments Limited (“MMPL”) AND Calpian Inc. (“Calpian”) AND Shashank Joshi (“Company Founder No 1”) AND Rajat Sharma (“Company Founder...
FIRST AMENDMENT TO MEMORANDUM OF UNDERSTANDING
Amongst
DIGITAL PAYMENTS PROCESSING LIMITED
(“Company”)
AND
My Mobile Payments Limited
(“MMPL”)
AND
Calpian Inc.
(“Calpian”)
AND
Xxxxxxxx Xxxxx
(“Company Founder No 1”)
AND
Xxxxx Xxxxxx
(“Company Founder No 2”)
AND
Xxxxxxx Oak
(“Company Founder No 3”)
AND
Xxxxx Xxxxxx
(“Company Founder No 4”)
AND
Xxxxxx Xxxxxx
(“Company Founder No 5”)
AND
Xxxxxx Xxxxx
(“Company Founder No 6”)
AND
Xxxx Xxxxxxxxxxx
(“Company Founder No 7”)
AND
Persons listed in Annexure A
(“Other Shareholders”)
AND
Persons listed in Annexure B
(“New Shareholders”)
DATE: ___________ 2013
THIS FIRST AMENDMENT TO MEMORANDUM OF UNDERSTANDING ("Amendment MOU") is made as of the ___________ of ___________, 2013 by and amongst:
DIGITAL PAYMENTS PROCESSING LIMITED, a public limited company, incorporated under the (Indian) Companies Act, 1956 and having its registered office at 7th Floor, Met Complex, Bandra Reclamation, Bandra (West), Xxxxxx - 000000, Xxxxxxxxxxx, Xxxxx (hereinafter referred to as “Company” which expression shall be deemed to mean and include its administrators, successors and permitted assigns) of the FIRST PART;
AND
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MY MOBILE PAYMENTS LIMITED, a public limited company, incorporated under the (Indian) Xxxxxxxxx Xxx, 0000, Xxxxx and having its registered office at 7th Floor, Met Complex, Bandra Reclamation, Bandra (West), Xxxxxx - 000000, Xxxxxxxxxxx, Xxxxx (hereinafter referred to as “MMPL” which expression shall be deemed to mean and include its administrators, successors and permitted assigns) of the SECOND PART;
AND
CALPIAN INC., a company incorporated under the laws of State of Texas, USA and having its registered/corporate office at 000 X. Xxxxx Xxxxxx, Xxxxx 0000, Xxxxxx, XX 00000 (hereinafter referred to as “Calpian” which expression shall be deemed to mean and include its administrators, successors and permitted assigns) of the THIRD PART;
AND
XX. XXXXXXXX XXXXX, an Indian inhabitant, residing at F.N. 1901,Emrald-1, Royal Palms Golf Country Club, Aarey Milk Colony, Goregaon (East), Xxxxxx 000000, Xxxxxxxxxxx, Xxxxx (hereinafter referred to as the “Company Founder No. 1”, which expression shall be deemed to mean and include his heirs, executors, administrators, successors and permitted assigns);
AND
MR. XXXXX XXXXXX, an Indian inhabitant, residing at 1-11-126 & 126/1, 503, Jaya Enclave, Xxxxxxxx Begumpet, Hyderabad 500016, Andhra Pradesh, India (hereinafter referred to as the “Company Founder No. 2”, which expression shall be deemed to mean and include his heirs, executors, administrators, successors and permitted assigns);
AND
XX. XXXXXXX OAK, an Indian inhabitant, residing at 41/A/4, Manish Nagar, Four Bungalows, Andheri (W), Xxxxxx 000000, Xxxxxxxxxxx, Xxxxx (hereinafter referred to as the “Company Founder No. 3”, which expression shall be deemed to mean and include his heirs, executors, administrators, successors and permitted assigns);
AND
XX. XXXXX XXXXXX, an Indian inhabitant, residing at 43/1301 MIG, Xxxxxxxxxxx, Xxxxx, Xxxxxx 000000, Xxxxxxxxxxx, Xxxxx (hereinafter referred to as the “Company Founder No. 4”, which expression shall be deemed to mean and include his heirs, executors, administrators, successors and permitted assigns);
AND
XX. XXXXXX XXXXXX , an Indian inhabitant, residing at Xxxxx Xxxxx, 00, Xxxxx Xxxxxx, 0xx Xxxxx, Xxxxxxx 000000, Xxxxx (hereinafter referred to as the “Company Founder No.
3
5”, which expression shall be deemed to mean and include his heirs, executors, administrators, successors and permitted assigns);
AND
XX. XXXXXX XXXXX, an Indian inhabitant, residing at X-00, Xxxx Xxxx, Xxxxxx Xxxxx, Xxxx Xxxxxx Xxxx, Xxx Xxxxx 110 007, India (hereinafter referred to as the “Company Founder No. 6”, which expression shall be deemed to mean and include his heirs, executors, administrators, successors and permitted assigns);
AND
MR. XXXX XXXXXXXXXXX, an Indian inhabitant, residing at Xxxx Xx 000, X X Xxxxxxxxxx, 0-0-0000 Xxxxxxxx, Xxxxxxxxx 000000, Xxxxxx Xxxxxxx, Xxxxx (hereinafter referred to as the “Company Founder No. 7”, which expression shall be deemed to mean and include his heirs, executors, administrators, successors and permitted assigns);
Company Founder No.1 to 7 shall be referred to as Party of the FOURTH PART.
AND
All the existing shareholders of MMPL as provided in Annexure A, hereinafter, collectively are referred to as “Other Shareholders” which expression shall unless it be repugnant to the context or meaning thereof, be deemed to mean and include their respective heirs, successors, legal representatives, administrators and permitted assigns of the FIFTH PART.
AND
All the new shareholders of MMPL as provided in Annexure B, hereto, collectively are referred to as “New Shareholders” which expression shall unless it be repugnant to the context or meaning thereof, be deemed to mean and include their respective heirs, successors, legal representatives, administrators and permitted assigns of the SIXTH PART.
Company Founder No.1, Company Founder No.2, Company Founder No.3, Company Founder No.4, Company Founder No.5, Company Founder No.6 and Company Founder No.7 are collectively referred to as the “Company Founders” and severally as “Company Founder”.
Company, MMPL, Calpian, Other Shareholders, New Shareholders and Company Founders (collectively as one Party) are collectively referred to as the “Parties” and individually referred to as the “Party”. For avoidance of doubt it is hereby clarified that for the purpose of this Amendment MOU, all the Company Founders, Other Shareholders, New Shareholders and their Associates (as defined in the SSSHA) shall be collectively considered as one Party and Calpian and its Associates (as defined in the SSSHA) shall be collectively considered as one Party.
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WHEREAS
A. | Parties have executed MOU dated March 23, 2012 (“MOU”) to lay down the terms and conditions on which the proposed merger of the Company into MMPL would take place and also the terms and conditions which would be applicable pursuant to the merger. |
B. | The Parties have mutually discussed, clarified and corrected certain commercial obligations in order to laying out appropriate understanding prevailing between the Parties. |
C. | Therefore Parties are executing this Amendment MOU to reflect the revised understanding. |
NOW THEREFORE, in consideration of the premises and mutual promise and agreements of the Parties herein expressed, the sufficiency of which is acknowledged by the Parties, the Parties, intending to be legally bound, hereby agree as follows:
1. | AMENDMENT TO THE MOU |
1.1 | Name Clause in respect of the ‘Other Shareholders’ of the MOU shall be deleted and shall be replaced with the following: |
“All the existing shareholders of MMPL as provided in Annexure A, hereinafter, collectively are referred to as “Other Shareholders” which expression shall unless it be repugnant to the context or meaning thereof, be deemed to mean and include their respective heirs, successors, legal representatives, administrators and permitted assigns of the FIFTH PART”
1.2 | Clause 3.1 of the MOU shall be deleted and shall be replaced with the following: |
“On and from the earlier of (a) the expiry of 18 (eighteen) months from the First Closing Date or (b) the date on which Calpian infuses Initial Funding and Future Funding of upto U.S.D. 10,800,000 (U.S. Dollars Ten Million Eight Hundred Thousand) in accordance with the SSSHA, Parties hereby agree and undertake that Calpian has an option to merge Company into MMPL if and when the Indian regulations permit the foreign direct investment into the business activities into which MMPL is involved (such status would be referred to as “Merger Status”). When Calpian opts for such merger, subject to the approval of the Government Authority, if required, the Parties shall forthwith cause the merger of the Company into MMPL. To determine whether the Merger Status has been achieved or not, every 6 (six) months from the date hereof, Parties shall in good faith review the Merger Status. Subject to conditions stated above, Calpian shall have the right to exercise the option for the merger at any time within a period of 6 (six) years from the First Closing Date.”
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1.3 | Clause 5.1.1 of the MOU shall be deleted and shall be replaced with the following: |
“Subscription of 2.9048% (two point nine thousand forty eight percentage) of the paid up equity capital of MMPL (merged entity), on a fully diluted basis, for a payment of USD 1,737,736 (U.S. Dollars One million seven hundred thirty seven thousand and seven hundred thirty six) to MMPL through appropriate banking channels prescribed under Applicable Law; and
The aforesaid assumption is based on the fact that the shareholding of Calpian in MMPL (merged entity) on the Effective Date is 48.0952% in merged entity. Accordingly, Calpian in order to attain 51% of MMPL (merged entity) has to acquire 2.9048%. The subscription cost for 2.9048% is USD 1,737,736 (U.S. Dollars one million seven hundred thirty seven thousand and seven hundred thirty six). In the event, the shareholding of Calpian in MMPL (merged entity) on the Effective Date is less than 48.0952% in merged entity on account of Calpian not having invested full amount of USD 10.8 million in the Company and Calpian requires percentage greater than 2.9048% to attain 51% of MMPL, then the Parties shall mutually agree on the price at which such higher equity percentage would be achieved, however, such price shall not exceed the proportionate increase over USD USD 1,737,736 (U.S. Dollars one million seven hundred thirty seven thousand and seven hundred thirty six) which is required to acquire 2.9048%. In the event, the shareholding of Calpian in MMPL (merged entity) on the Effective Date is less than 48.0952% in merged entity despite Calpian having invested full amount of USD 10.8 million in the Company and Calpian requires percentage greater than 2.9048% to attain 51% of MMPL, then USD USD 1,737,736 (U.S. Dollars one million seven hundred thirty seven thousand and seven hundred thirty six) would be the consideration for the issue of such number of shares as would enable Calpian to attain 51% shareholding in MMPL.
It is hereby clarified that Calpian shall have the additional option to acquire the aforesaid equity share capital of MMPL (merged entity) through transfer of equity shares from the Company Founders to Calpian on a proportionate basis, unless a different proportion is agreed to by the Company Founders inter-se. In the event Calpian acquires the equity shares from Company Founders, the Company Founders undertake to sell their equity shares to Calpian and such contract of purchase and sale would be executed as a spot delivery contract.”
1.4 | Clause 5.1.2 of the MOU shall be deleted and shall be replaced with the following: |
“Subscription of 23% (twenty three percentage) of the paid up equity capital of MMPL (merged entity), on a fully diluted basis, for cash payment of USD 4,700,000 (U.S. Dollars four million seven hundred thousand) to MMPL (merged entity).
It is hereby clarified that Calpian shall have the additional option to acquire the aforesaid equity share capital of MMPL (merged entity) through transfer of equity shares from all the shareholders of MMPL to Calpian on a proportionate basis, unless
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a different proportion is agreed to by the Company Founders. In the event Calpian acquires the equity shares from the shareholders of MMPL, the shareholders of MMPL undertake to sell their equity shares to Calpian and such contract of purchase and sale would be executed as a spot delivery contract.”
1.5 | Clause 6.1 of the MOU shall be deleted and shall be replaced with the following: |
“The Company Founders, jointly and severally, provide to the other Parties the representation and warranties in relation to MMPL as mentioned in Schedule 4 as on the Execution Date, the Closing Date, each date on which Calpian infuses equity capital into MMPL and on the Effective Date.”
1.6 | Clause 6.2 of the MOU shall be deleted and shall be replaced with the following: |
“Calpian provides to the other Parties the representation and warranties as mentioned in Schedule 5 as on the Execution Date, the Closing Date, each date on which Calpian infuses equity capital into MMPL and on the Effective Date.”
1.7 | Clause 6.4 of the MOU shall be deleted and shall be replaced with the following: |
“Calpian and Company Founders expressly agree and undertake that their respective representations and warranties are true and correct on the Execution Date and will be true and correct on the Closing Date, each date on which Calpian infuses equity capital into MMPL and the Effective Date and are not misleading in any manner whatsoever.”
1.8 | Clause 6.5 of the MOU shall be deleted and shall be replaced with the following: |
“If any of the Company Founder’s representations and warranties becomes untrue or incorrect between the Execution Date and each date on which Calpian infuses equity capital into MMPL or between the Execution Date and the Effective Date, the Company Founders shall immediately notify Calpian of the same and Calpian shall be entitled to terminate this MOU.”
1.9 | Clause 6A.2 of the MOU shall be deleted and shall be replaced with the following: |
“From the Execution Date until the earlier of (x) the Effective Date and (y) the date till Calpian obtains majority in MMPL, MMPL shall and the Company Founders shall cause MMPL (without prejudice to their other obligations under this MOU) to carry on and manage the business of MMPL in the ordinary course of business, in the manner and scope as carried on the Execution Date.”
1.10 | Introduction paragraph of Clause 6A.3 of the MOU shall be deleted and shall be replaced with the following: |
“Without prejudice to the generality of Clause 6A.2, MMPL shall not and the Company Founders and Other Shareholders shall ensure that, during the period
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between the Execution Date and the earlier of (x) the Effective Date and (y) the date till Calpian obtains majority in MMPL, MMPL shall not, do any of the following without the prior written consent of Calpian:”
”
1.11 | Introduction paragraph of Clause 6A.4 of the MOU shall be deleted and shall be replaced with the following: |
“MMPL shall and the Company Founders and Other Shareholders shall cause MMPL to, during the period between the Execution Date and the earlier of (x) the Effective Date and (y) the date till Calpian obtains majority in MMPL, promptly notify Calpian and the Company of any of the following:”
1.12 | Clause 6A.9 of the MOU shall be deleted and shall be replaced with the following: |
“In the event the Company Founders and Other Shareholders, till the earlier of (x) the Effective Date and (y) the date till Calpian obtains majority in MMPL, transfer their shareholding in MMPL in accordance with this MOU, in each such case the transferee shall execute a Deed of Adherence in the form and substance attached in Schedule 6, and shall become subject to and validly and effectively bound by the terms of this MOU and, accordingly, all references to the relevant transferor herein would upon such transfer be construed as a reference to the relevant transferee, or to the relevant transferor and the relevant transferee jointly, as the case may be.”
1.13 | Following Clauses shall be added after Clause 6A.11: |
“6A.12. | Notwithstanding anything contained herein, the Parties hereby further agree that in the event Calpian decides not to merge the Company into MMPL post investment of USD 10.8 million into the Company and subsequent to the receipt of consent from FIPB, if Calpian decides to directly invest USD 6,437,736 into MMPL, the Company Founders and Other Shareholders agree that Calpian after investment of USD 6,437,736 into MMPL shall be entitled to hold 74% the paid up equity capital of MMPL on a fully diluted basis. Calpian has the right to invest said USD 6,437,736 into MMPL in various tranches and each date on which Calpian infuses equity capital into MMPL, MMPL shall issue proportionate equity share to Calpian. |
6A.13 | In this regard, the Company Founders and Other Shareholders shall cause their respective nominees on the Board to vote, and cast their votes as shareholders to allow and enable MMPL to issue such number of shares of MMPL to Calpian in timely manner as contemplated in Clause above. |
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6A.14 | The said issuance shall be subject to the valuation as may be prescribed under the Foreign Exchange Management Act, 1999, wherever applicable, but the Parties shall use best efforts to value MMPL to achieve the desired shareholding. |
6A.15 | The Parties hereby agree that it is the intent of the Parties that subsequent to Calpian’s investment of USD 10.8 million in the Company and USD 6,437,736 in MMPL, Calpian shall hold 74% paid up equity shareholding on a fully diluted basis in the Company and 74% paid up equity shareholding on a fully diluted basis in MMPL.” |
1.14 | Clause 8.1 of the MOU shall be deleted and shall be replaced with the following: |
“Subsequent to Calpian’s investment into MMPL or subsequent to the merger, MMPL and its subsidiaries shall be governed by the terms and conditions as mentioned in the SSSHA and references to “Company” shall be deemed to be references to “MMPL” or “subsidiaries of MMPL”, as applicable.”
1.15 | Clause 8.3 of the MOU shall be deleted and shall be replaced with the following: |
“This MOU shall be terminated with the mutual consent of all the Parties in writing. This MOU shall be valid only upto 6 (six) years period from the date of First Closing unless Calpian has issued notice expressing its intention to exercise its option of merger within the aforesaid 6 (six) years period or Calpian has directly invested into MMPL, in which case the validity of this MOU shall be indefinite.”
1.16 | Clause 9.14 of the MOU shall be deleted and shall be replaced with the following: |
“Conflict with the Articles
The article of association of MMPL shall be amended to include the terms of this MOU prior to any investment by Calpian into MMPL. In the event of any ambiguity or discrepancy between the provisions of this MOU and the articles of association of MMPL, it is intended that the provisions of this MOU shall prevail and accordingly the Parties shall exercise all voting and other rights and powers available to them so as to give effect to the provisions of this MOU and shall further, if necessary, procure any required amendment to the articles of association of MMPL.”
1.17 | Schedule 3 of the MOU shall be replaced with the new Schedule 3 attached hereto. |
2. | Final Agreement And Effectiveness: |
2.1 | All the other terms and conditions as mentioned in the MOU shall remain in full force and effect. It is clarified that this Amendment MOU and the MOU, taken |
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together, constitute the final agreement between the Parties and wherever there is any conflict between this Amendment MOU and the MOU for provisions mentioned herein, the provisions of this Amendment MOU are paramount and shall prevail over the MOU.
2.2 | Upon the effectiveness of this Amendment MOU, on and after the date hereof, each reference in the MOU to “this MOU, “hereunder,” “hereof,” “herein” or words of like import, shall mean and be a reference to the MOU, as amended hereby. All capitalized and other terms used in this Amendment MOU and not defined herein will have the same meaning as assigned to them under the MOU. |
2.3 | It is expressly clarified by the Parties that the provisions mentioned in this Amendment MOU shall be effective with retrospective effect from the date of execution of the MOU. |
2.4 | Each Party hereby waives any claim that it may have against the other Party for any breach of respective obligation, defaults, transgressions, failures to act etc. in terms of the MOU for the period upto the date hereof. |
2.5 | Annexure B hereto lists down the new shareholders of MMPL who have become the shareholders of MMPL post the Execution Date and have executed the deed of adherence in terms of the MOU. |
2.6 | This Amendment MOU may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. |
2.7 | The provisions of Clause 9.5 (Costs) and Clause 9.11 (Governing Law and Arbitration) of the MOU shall apply mutatis mutandis to this Amendment MOU. |
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IN WITNESS WHEREOF, the parties have executed this Amendment MOU as of the day and year first above mentioned.
Digital Payments Processing Limited (“DPPL”) | My Mobile Payments Limited (“MMPL”) |
Signature: | Signature: |
Name and Designation: | Name and Designation: |
Witness | Witness |
Signature: | Signature: |
Name | Name |
Calpian Inc. (“Calpian”) | Company Founder No. 1 |
Signature: | Signature: |
Name and Designation: Xxxxx Pilotte Chief Financial Officer | Name: Xxxxxxxx X. Xxxxx |
Witness | Witness |
Signature: | Signature: |
Name | Name |
Company Founder No. 2 | Company Founder No. 3 |
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Signature: | Signature: |
Name: Xxxxx Xxxxxx | Name: Xxxxxxx Oak |
Witness | Witness |
Signature: | Signature: |
Name | Name |
Company Founder No. 4 | Company Founder No. 5 |
Signature: | Signature: |
Name: Xxxxx Xxxxxx | Name: Xxxxxx Xxxxxx (Through Power Of Attorney holder Xxxxxxxx X. Xxxxx) |
Witness | Witness |
Signature: | Signature: |
Name | Name |
Company Founder No. 6 | Company Founder No. 7 |
Signature: | Signature: |
Name: Xxxxxx Xxxxx (Through Power Of Attorney holder Xxxxxxxx X. Xxxxx) | Name: Xxxx Xxxxxxxxxxx (Through Power Of Attorney holder Xxxxxxxx X. Xxxxx) |
Witness | Witness |
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Signature: | Signature: |
Name | Name |
Other Shareholder | Other Shareholder |
Signature: | Signature: |
Name: T Nataraj (Through Power Of Attorney holder Xxxxxxxx X. Xxxxx) | Name: Xxxxxxxxx Xxx (Through Power Of Attorney holder Xxxxxxxx X. Xxxxx) |
Witness | Witness |
Signature: | Signature: |
Name | Name |
Other Shareholder | Other Shareholder |
Signature: | Signature: |
Name: Xxxxxx Xxxxxx (Through Power Of Attorney holder Xxxxxxxx X. Xxxxx) | Name: Xxxxx Xxxx (Through Power Of Attorney holder Xxxxxxxx X. Xxxxx) |
Witness | Witness |
Signature: | Signature: |
Name | Name |
Other Shareholder | Other Shareholder |
13
Signature: | Signature: |
Name: Xxxxxxxx Xxxxxx (Through Power Of Attorney holder Xxxxxxxx X. Xxxxx) | Name: Xxxxxxx Xxxxx (Through Power Of Attorney holder Xxxxxxxx X. Xxxxx) |
Witness | Witness |
Signature: | Signature: |
Name | Name |
Other Shareholder | Other Shareholder |
Signature: | Signature: |
Name: Shweta Xxxxx (Through Power Of Attorney holder Xxxxxxxx X. Xxxxx) | Name: Xxxx Xxxxx (Through Power Of Attorney holder Xxxxxxxx X. Xxxxx) |
Witness | Witness |
Signature: | Signature: |
Name | Name |
Other Shareholder | Other Shareholder |
Signature: | Signature: |
Name: Xxxxxxx Xxxxx (Through Power Of Attorney holder Xxxxxxxx X. Xxxxx) | Name: Xxxx Xxxxx (Through Power Of Attorney holder Xxxxxxxx X. Xxxxx) |
Witness | Witness |
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Signature: | Signature: |
Name | Name |
Other Shareholder | Other Shareholder |
Signature: | Signature: |
Name: Xxxxxxxxx Xxxxx (Through Power Of Attorney holder Xxxxxxxx X. Xxxxx) | Name: Xxxxxxxx Xxxxxx |
Witness | Witness |
Signature: | Signature: |
Name | Name |
Other Shareholder | Other Shareholder |
Signature: | Signature: |
Name: Bharat Bajaj | Name: Xxxxx Xxxxx |
Witness | Witness |
Signature: | Signature: |
Name | Name |
Other Shareholder | Other Shareholder |
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Signature: | Signature: |
Name: Faihzan Khan | Name: Xxxxx Xxxxxxx |
Witness | Witness |
Signature: | Signature: |
Name | Name |
Other Shareholder | Other Shareholder |
Signature: | Signature: |
Name: Xxxxx Xxxxxxxx | Name: Xxxxx Xxx |
Witness | Witness |
Signature: | Signature: |
Name | Name |
Xxxxxx Informatics (“Other Shareholder) | Happy Ezon Limited (“Other Shareholder”)(Through Power Of Attorney holder Xxxxxxxx X. Xxxxx) |
Signature: | Signature: |
Name and designation: Xxxxxxx Xxxxxx, Proprietor | Name and designation: |
Witness | Witness |
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Signature: | Signature: |
Name | Name |
TAS Management Private Limited (“Other Shareholder”) (Through Power Of Attorney holder Xxxxxxxx X. Xxxxx) | |
Signature: | |
Name and designation: | |
Witness | |
Signature: | |
Name | |
New Shareholder | New Shareholder |
Signature: | Signature: |
Name: Xxxxxxx Xxxxx (Through Power Of Attorney holder Xxxxxxxx X. Xxxxx) | Name: Xxxxxxx Xxx (Through Power Of Attorney holder Xxxxxxxx X. Xxxxx) |
Witness | Witness |
Signature: | Signature: |
Name | Name |
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New Shareholder | New Shareholder |
Signature: | Signature: |
Name: Xxxxxxx Xxxxxx (Through Power Of Attorney holder Xxxxxxxx X. Xxxxx) | Name: Xxxxxxx Xxxxx (Through Power Of Attorney holder Xxxxxxxx X. Xxxxx) |
Witness | Witness |
Signature: | Signature: |
Name | Name |
New Shareholder | New Shareholder |
Signature: | Signature: |
Name: Xx. Xxxxxxxxxxxxxx Xxxxxx (Through Power Of Attorney holder Xxxxxxxx X. Xxxxx) | Name: Sumit Dash (Through Power Of Attorney holder Xxxxxxxx X. Xxxxx) |
Witness | Witness |
Signature: | Signature: |
Name | Name |
New Shareholder | New Shareholder |
Signature: | Signature: |
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Name: Aditya Xxxxxxx Xxxxx (Through Power Of Attorney holder Xxxxxxxx X. Xxxxx) | Name: Happy Bengal Promoters Limited (Through Power Of Attorney holder Xxxxxxxx X. Xxxxx) |
Witness | Witness |
Signature: | Signature: |
Name | Name |
New Shareholder | New Shareholder |
Signature: | Signature: |
Name: Xxxxxxx Xxxxxxx (Through Power Of Attorney holder Xxxxxxxx X. Xxxxx) | Name: Xxxxxxxxx Estates (India) Private Limited (Through Power Of Attorney holder Xxxxxxxx X. Xxxxx) |
Witness | Witness |
Signature: | Signature: |
Name | Name |
New Shareholder | New Shareholder |
Signature: | Signature: |
Name: Xxxxx Xxxxx Xxxxxx (Through Power Of Attorney holder Xxxxxxxx X. Xxxxx) | Name: Xxxxx Xxxxx (Through Power Of Attorney holder Xxxxxxxx X. Xxxxx) |
Witness | Witness |
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Signature: | Signature: |
Name | Name |
New Shareholder | New Shareholder |
Signature: | Signature: |
Name: Xxxxxxxxxx X. Xxxxx (Through Power Of Attorney holder Xxxxxxxx X. Xxxxx) | Name: Xxxxxxxxx X. Xxxxx (Through Power Of Attorney holder Xxxxxxxx X. Xxxxx) |
Witness | Witness |
Signature: | Signature: |
Name | Name |
New Shareholder | New Shareholder |
Signature: | Signature: |
Name: Xxxxxx Xxxxxxxxxx Xxxxx (Through Power Of Attorney holder Xxxxxxxx X. Xxxxx) | Name: Xxxxxxx Xxxxx (Through Power Of Attorney holder Xxxxxxxx X. Xxxxx) |
Witness | Witness |
Signature: | Signature: |
Name | Name |
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SCHEDULE 3
MMPL SHAREHOLDING ON EFFECTIVE DATE
Assuming entire USD 10.8 Million investment is made by Calpian in the Company and effectively the Company shareholding break-up is as follows:
Particulars | No. of shares | Percentage (%) |
The Company Founders | 458,500 | 25.35 |
Calpian | 1,304,962 | 72.15 |
Employees | 45,217 | 2.50 |
TOTAL | 1,808,679 | 100 |
After considering the employee stock options of 45,217 shares of the share capital of the Company (pre merger) above, in the post merger shareholding of MMPL, Calpian will own 48.0952%, the employees who hold or have exercised the employee stock options will own 1.625% and the Company Founders and other shareholders of MMPL will own 50.2798%, of the equity share capital of MMPL (merged entity) on a fully diluted basis.
In order to clarify, in case Calpian invests upto USD 9,600,000 Million and accordingly holds 1,199,555 shares, accordingly Calpian shall receive lesser percentage of the holding of the merged entity. This is elaborated below for the sake of clarity:
On the Effective Date of the Merger, Calpian’s holding is 1,304,962 equity shares then the shareholding percentage of Calpian in MMPL (merged entity) will be 48.0952%.
On the Effective Date of the Merger, if Calpian’s holding is 1,199,555 equity shares the shareholding percentage for Calpian in MMPL (merged entity) will be 44.2104%.
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ANNEXURE B
NEW SHAREHOLDERS
Serial No. | Name of the Shareholder | Number of Shares | Address |
1. | Xxxxxxx Xxxxx | 00 | X-000, XXX Xxxxxxx Xxxxxxx, Xxxxxx 00, Xxxxx |
2. | Xxxxxxx Xxx | 10 | Indralok Apts., Flat no. X-0, 00, Xxxxxxxx Xxxx, Xxxxxxx - 700 041 |
3. | Xxxxxxx Xxxxxx | 5,000 | Q-1 Sankul, Near Xxxxxxxx Xxxxxxxxxx Hospital, Erandwane, Pune - 411004 |
4. | Xxxxxxx Xxxxx | 10,000 | Xxxx - 00 - Xxxxxxx, Xxxxxxx Society - Lane 10, Near Gandhi Bhavan, Kothrud, Pune - 411038 |
5. | Xx. Xxxxxxxxxxxxxx Xxxxxx | 5,000 | 000/XX/0,Xxxxx Xxxx, Xxxxxxxx Xxxx , Xxxx, Pin code - 411030 |
6. | Sumit Dash | 1,500 | Xxxxx # 0, Xxxx -0 , Xxx-0, Telecom Colony,At: Turunga, XX Xxxxxxxxx, Xxxxxxx, Xxxxxx - 000000 |
7. | Aditya Xxxxxxx Xxxxx | 5,000 | Flat 1201, E Wing, Venus Apartments, Xxxx Xxxxx Xxxxxx Xxxx Road, Worli Seaface, Worli, Mumbai - 400018 |
8. | Happy Bengal Promoters Limited | 620,000 | Xxxxx Xxxxx, 00 Xxxxx Xxxxxx, Xxxxxxx - 000000 |
9. | Xxxxxxx Xxxxxxx | 33,000 | 3A, Krishna Kunj, 0xx Xxxx, Xxx Xxxx Xxxx (Xxxx), Xxxxxx - 000000 |
10. | Xxxxxxxxx Estates (India) Private Limited | 12,000 | 12, Ram Xxxxx, 000, Xxxxxxx Xxxx, Xxxx (X), Xxxxxx - 000000 |
11. | Xxxxx Xxxxx Xxxxxx | 8,000 | Flat no. 204, Dosti Lily, Dosti Xxxxx Xxxxxxx, Xxxxxx (X), Xxxxxx - 000000 |
12. | Xxxxx Xxxxx | 20,000 | Xxxx Xx.00, S/F Block 1, Erose Garden, Charmwood Village, Surajkund, Faridabad - 121009 |
13. | Xxxxxxxxxx X. Xxxxx | 46,750 | Flat no. 0000, Xxxx Xxxxx, Xxxxxxxxxxx Xxxxxxx, Xxxxx, Xxxxxx - 000000 |
14. | Xxxxxxxxx X. Xxxxx | 45,000 | 1B, Xxxxx Xxxxx, Opp. Xxxxxx Gram, Xxxxx Xxxxx, Xxxxxxxxx (X), Xxxxxx - 000000 |
15. | Xxxxxx Xxxxxxxxxx Xxxxx | 10,000 | 000, Xxxxxxxxxxx XXX, Xxxxxxxxx wadi, Kandivali (W), Mumbai - 400067 |
16. | Xxxxxxx Xxxxx | 3,250 | 201, Nisha Residency, L. T. Road no. 5, Off. M. X. Xxxx, Xxx. Xxxxxxxxx, Xxxxxxxx (X), Xxxxxx - 00 |
00
