Cancellation of Extra Ordinary GHeneral Meeting of Active Clothing Co Limited schedule to be held on 07.4.2025
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Active Clothing Co Limited has cancelled the Extra Ordinary General Meeting (EGM) that was originally scheduled for 7 April 2025. The Board of Directors, at a meeting held on 2 April 2025, decided to call off both the EGM and the proposed issue of warrants convertible into equity shares to certain allottees on a preferential basis, citing adverse market conditions. The company had already submitted the necessary intimation to BSE, depositories, and the registrar (RTA) on 2 April 2025. A newspaper advertisement confirming the cancellation was published in Business Standard (English and Hindi, Chandigarh editions) on 3 April 2025, and the update is also available on the company's website. The company has apologized to shareholders for the inconvenience.
The preferential warrant issue, which would have brought fresh equity capital into the company, has been shelved for now. Shareholders will not get to vote on this proposal, and near-term fundraising through this route is on hold. The stock could see a mild negative reaction as the capital-raising plan has been deferred, but no fundamental business impact is indicated.