Mobavenue AI Tech Limited Publishes Postal Ballot Advertisement in Newspapers

Mobavenue AI Tech Limited has published newspaper advertisements regarding its postal ballot notice and remote e-voting facilities on April 01, 2026, in compliance with SEBI listing regulations. The company had earlier dispatched postal ballot notices to shareholders seeking approval for equity share subdivision and amendments to the Memorandum of Association.

Newspaper Advertisement Publication

The company published advertisements in two newspapers on April 01, 2026, informing shareholders about the postal ballot process:

Publication Details Information Publication Date April 01, 2026 English Newspaper The Free Press Journal (Indore Edition) Hindi Newspaper Choutha Sansar Website Availability www.mobaveneu.ai

The advertisement was published pursuant to Regulations 30 and 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Company Secretary Manali Gohil confirmed the publication through a formal communication to BSE Limited.

Share Subdivision Proposal

The postal ballot seeks shareholder approval for subdividing equity shares from Rs. 10 face value to Rs. 2 face value. The subdivision details are:

Parameter Pre-Subdivision Post-Subdivision Face Value per Share Rs. 10 Rs. 2 Authorized Share Capital 2,00,00,000 shares 10,00,00,000 shares Issued & Paid-up Capital 1,54,59,558 shares 7,72,97,790 shares Total Capital Value Rs. 20,00,00,000 Rs. 20,00,00,000

The subdivision will split each existing equity share into 5 shares, maintaining proportionate shareholding and voting rights without impacting the total paid-up share capital of Rs. 15,45,95,580.

E-Voting Process and Timeline

The company has engaged National Securities Depository Limited (NSDL) for remote e-voting facilities, with CS Sandhya Malhotra appointed as Scrutinizer:

E-Voting Timeline Date & Time Cut-off Date Friday, March 27, 2026 Voting Commencement Wednesday, April 01, 2026 at 09:00 A.M. (IST) Voting Conclusion Thursday, April 30, 2026 at 05:00 P.M. (IST) Results Declaration On or before Tuesday, May 05, 2026

Regulatory Compliance

The postal ballot process follows provisions of Section 110 read with Section 108 of the Companies Act, 2013, and complies with MCA Circular No. 03/2025 dated September 22, 2025. The notice is being sent electronically to shareholders whose email addresses are registered with the company or depositories.

Company Information

Mobavenue AI Tech Limited, formerly known as Lucent Industries Limited, operates with its registered office in Indore, Madhya Pradesh, and corporate office in Mumbai, Maharashtra. The company's shares are listed on BSE Limited with scrip code 539682.

Mobavenue AI Tech Limited has announced a strategic leadership transition with Mr. Tejas Rathod stepping down from his Chief Financial Officer position effective March 31, 2026. The company informed BSE Limited through a regulatory filing dated April 01, 2026, under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Leadership Transition Details

The transition represents an internal realignment of roles and responsibilities within the organization. Mr. Rathod will continue serving as Whole-time Director, allowing him to concentrate on the company's technology, product development, and innovation initiatives.

Parameter: Details Effective Date: March 31, 2026 New Role: Whole-time Director Previous Position: Chief Financial Officer DIN Number: 07111110

Strategic Rationale

The company outlined several strategic objectives behind this leadership change:

Enable greater focus on technology function strengthening

Facilitate enhanced product development and innovation initiatives

Provide opportunities for other leadership talent to assume CFO responsibilities

Support continued organizational growth through role optimization

According to the regulatory filing, this transition aims to strengthen the technology function while ensuring a clear separation between strategic leadership and financial management responsibilities.

Regulatory Compliance

Mobavenue AI Tech Limited has confirmed receipt of communication from Mr. Tejas Rathod stating there are no material reasons for stepping down as CFO beyond those mentioned in the official announcement. The company has fulfilled all disclosure requirements under SEBI regulations, including details mandated by Schedule III of the Listing Regulations.

Transition Support

Mr. Rathod has committed to remaining fully available during the transition period to ensure smooth handover of CFO responsibilities. In his formal communication to the Board dated March 18, 2026, he expressed appreciation for the support received from directors, senior management, and stakeholders during his CFO tenure.

The company secretary Manali Gohil (ACS64629) signed the regulatory filing, confirming the organization's commitment to maintaining transparent communication with stakeholders throughout this leadership transition process.

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