Outcome of E-voting through Postal Ballot
Price
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Ajcon Global Services Ltd has concluded its postal ballot e-voting process with all three resolutions passing with overwhelming majority (99.999% in favour). The key resolution is a stock split where each equity share of face value Rs.10 will be sub-divided into 10 equity shares of face value Rs.1 each. Additionally, the Memorandum of Association's capital clause will be altered to reflect this change. Mrs. Sangeeta Vijay Kumar (DIN: 10704866) has been appointed as an Independent Director of the company. Out of 37 shareholders who voted, 36 voted in favour with 41,25,263 shares, while just 1 shareholder voted against with a single share.
The 10:1 stock split will increase the number of outstanding shares tenfold while reducing per-share price, making the stock more affordable and potentially improving liquidity and retail participation. The appointment of a new Independent Director strengthens the board composition. Shareholders should note the record date for the stock split will be announced separately by the company.