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7Seas Entertainment Ltd has dispatched the notice for its 34th Annual General Meeting, scheduled for September 30, 2025 at 9:00 AM via video conferencing. Ordinary business includes adoption of FY25 audited financials, re-appointment of two retiring directors (K. Pradeep Kumar and G. Srinivas Rao), and re-appointment of M/s Sathuluri & Co. as statutory auditors for 5 years until the 39th AGM in 2030. Special business includes increasing authorised share capital from Rs.23 crore to Rs.25 crore, a preferential issue of up to 6 lakh equity shares and 13.75 lakh convertible warrants at Rs.80 each (including Rs.70 premium) to promoters and identified persons, conversion of Rs.1.52 crore unsecured loans from the Managing Director and Whole-Time Director into 1.9 lakh equity shares at Rs.80, appointment of M/s Chakravarthy & Associates as secretarial auditor for 5 years, and doubling the Managing Director's remuneration from Rs.2.5 lakh to Rs.5 lakh per month effective October 1, 2025. The company received FICCI BAF 2025 awards for its gaming IP (Alex in Danger – Runner-up for Best Visual Art; Mouze Maze – Nominee for Best Indie Game).
Shareholders will vote on several capital-affecting proposals: a preferential allotment of up to 19.75 lakh shares/warrants (potential dilution), an authorised capital hike, and loan-to-equity conversion of promoter loans, which will increase promoter holding. The doubling of MD remuneration is a governance point to note. E-voting cutoff date is September 23, 2025.