We wish to inform that the Outcome of the meeting of the Board of Directors of Company held today i.e. April 17, 2025. Please find the outcomes herewith.
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The board of Ambo Agritec Ltd met on April 17, 2025 and approved three key items. First, they approved doubling the authorized share capital from Rs. 25 crore to Rs. 50 crore, increasing the maximum equity shares from 2.5 crore to 5 crore shares of Rs. 10 each, along with a corresponding amendment to the Capital Clause V of the Memorandum of Association. Second, an Extraordinary General Meeting (EGM) has been scheduled for May 15, 2025 at 1:00 PM via video conferencing to seek shareholder approval for this capital change. Third, Mr. Abbas Vithorawala, a Practising Company Secretary, has been appointed as the Scrutinizer for the EGM. The board meeting lasted only 30 minutes, from 4:00 PM to 4:30 PM.
Doubling the authorized share capital is usually a preparatory step for a future fundraising round, preferential allotment, or stock split. While existing shareholders face no immediate dilution, they will need to vote on this proposal at the EGM on May 15, 2025. Investors should watch for follow-up announcements regarding any actual issuance of new shares.