Almondz Global Securities Limited has informed the Exchange regarding Notice of Extraordinary General Meeting to be held on May 11, 2026
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Almondz Global Securities Limited has called an EOGM on May 11, 2026 to seek shareholder approval for issuing up to 16,318,538 equity shares to its promoter Avonmore Capital & Management Services Limited by converting existing unsecured loans. The shares will be issued at Rs. 15.32 per share (including Rs. 14.32 premium) aggregating to Rs. 25 crore. Currently, Avonmore holds 50.34% stake in the company; post-allotment this will increase to 52.40%. The purpose is to improve the company's net worth and reduce future interest liability by converting promoter debt into equity.
Shareholders should note that passing of this resolution will dilute existing shareholders' stake by approximately 1.6% and increase promoter holding. The company will reduce its debt burden and strengthen its balance sheet. Voting 'yes' means approving the preferential allotment to the promoter at the determined price.