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Awaiting price reaction for this filing.
7Seas Entertainment Limited held its 34th AGM on September 30, 2025, via video conferencing, lasting about 37 minutes (9:00 AM to 9:37 AM). All 9 resolutions were passed with overwhelming approval of around 99.99%, with only about 400 votes against each resolution out of roughly 1.18 crore votes polled. Routine items included adoption of FY25 audited financials, re-appointment of two directors (K. Pradeep Kumar and G. Srinivas Rao), and re-appointment of statutory and secretarial auditors. Key special resolutions approved an increase in authorised share capital, issuance of equity shares and convertible warrants to promoters on a preferential basis, conversion of Rs. 1.52 crore unsecured loans from promoters/directors into 1,90,000 equity shares, and a revision in the remuneration of Managing Director L. Maruti Sanker. A total of 72 public members and 3 promoter-group members attended through VC, out of 4,015 shareholders on record.
Approval of the preferential share/warrant issue and the loan-to-equity conversion of Rs. 1.52 crore will dilute existing public shareholders, though exact quantum is not disclosed in this filing. The revision in MD remuneration is a related-party decision where public shareholders should watch the new terms once disclosed.