Sah Polymers Limited has informed the Exchange regarding Proceedings of Extraordinary General Meeting held on Jun 06, 2025
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Sah Polymers Limited held an Extra-Ordinary General Meeting on June 6, 2025, from 10:30 a.m. to 11:03 a.m. at its registered office in Udaipur, Rajasthan, attended by 34 members (2 promoter group and 32 public shareholders). A total of 12 resolutions were transacted through e-voting and polling, covering several major corporate actions. Key items include a proposal to change the company's name from 'Sah Polymers Limited' to 'Aeroflex Neu Limited', an increase in authorized share capital, amendment of the Object Clause and Clause V of the Memorandum of Association, and approval to issue 72,00,000 fully convertible warrants on a preferential basis to promoter and non-promoter entities. Shareholders also considered disinvestment of the company's entire stake in subsidiary Fibcorp Polyweave Private Limited, appointment of Harikant Turgalia as a Non-Executive Non-Independent Director, borrowings and mortgage authority under Sections 180 and 186, and related-party transactions with Lion Houseware Private Limited and Safe Polymer Private Limited. The voting results were to be announced within two working days by the scrutinizer, Mr. Ashok Modi.
The agenda signals a major strategic shift: a name change, expansion of capital base, fundraising via convertible warrants, and exit from a subsidiary suggest the company is pivoting its identity and restructuring its business. Shareholders should watch for the voting results announcement and any follow-up filings on the preferential allotment and subsidiary divestment, which could affect shareholding patterns and stock price.