Pursuant to the provisions of Regulation 32 of the Securities and Exchange Board of India [‘SEBI’] (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Circular No. CIR/CFD/CMD1/162/2019 dated 24th December 2019, Pharmaids Pharmaceuticals has confirmed that there is no deviation or variation in the use of proceeds of Preferential Issue of share Warrants. A ‘Nil’ Statement of Deviation, duly reviewed by the Audit Committee of the Company, is given in ‘Annexure A’. The proceeds raised by the Company through Preferential Issue have been utilised for the original objects as stated.
The above information is a part of company’s filings submitted to BSE.
