Postal Ballot: Fund Raising Resolution Approved by Shareholders
ARTEMISMED · price
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On the reaction day the stock moved 0.1 pts less than Nifty Microcap 250 and 0.7 pts more than its Hospital peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Shareholders approved a special resolution via postal ballot allowing the company to raise funds in one or more tranches through equity shares or other eligible securities. Out of about 11.94 crore votes polled (75.42% of outstanding shares), 98.68% voted in favor. Promoters fully backed the resolution with 100% support. The company has now secured shareholder approval to proceed with a potential capital raise through equity or convertible instruments.
Board is now cleared to raise capital via equity or eligible securities. Possible dilution risk if new shares are issued.