Almondz Global Securities Limited has informed the Exchange regarding Corrigendum to Notice of Extra Ordinary General Meeting
ALMONDZ · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Almondz Global Securities has issued a corrigendum to its EGM notice originally dispatched on April 13, 2026, after receiving observations from NSE and BSE on its proposed preferential issue of convertible warrants. The EGM is scheduled for May 11, 2026 at 11:30 AM via video conferencing, with e-voting from May 8 to May 10, 2026. Key changes include clarifying that the object of the issue is to repay an unsecured loan of 7% interest taken in March 2025 from its holding company, Avonmore Capital & Management Services Limited (ACMS), repayable on demand with a 3-year tenure. The corrigendum also clarifies that the sole proposed allottee is a promoter group member, with no other promoters, directors, or KMPs intending to subscribe to the offer.
This corrigendum signals a capital raise from the promoter group (ACMS) to repay an inter-group loan, which may result in equity dilution for existing public shareholders. The use of proceeds being restricted to loan repayment from the holding company suggests a restructuring exercise rather than fresh capital infusion for business growth, which shareholders should factor into their voting decision at the May 11 EGM.