as enclosed.
Awaiting price reaction for this filing.
Neueon Towers Limited (formerly Neueon Corporation Ltd) held its 18th AGM on August 19, 2025, via video conferencing, where all 15 resolutions were passed with overwhelming majority (over 99.87% in favour). Key resolutions included approval of FY25 financial statements, change of company name to Neueon Towers Limited, sale of three Telangana-based undertakings (at Turkala Khanapur and IDA Bollaram), appointment of M/s. ASKM & Co. as statutory auditors to fill a casual vacancy, appointment of Ms. Surabhi Verma as Independent Director, and adoption of new Memorandum and Articles of Association. The company had been admitted into the Corporate Insolvency Resolution Process (CIRP) in June 2019, and the NCLT approved a resolution plan submitted by a PRECA Solutions-led consortium in October 2024. Trading in the stock on BSE is currently temporarily suspended, and promoter reclassification to public is pending exchange approval. Only about 2.83% of total shareholding (roughly 16 lakh votes out of 5.65 crore shares) participated in the voting.
Shareholders have cleared significant restructuring steps including asset sales and a corporate name change, signalling the new management's intent to divest old properties and reshape the company post-insolvency. However, with stock trading suspended on BSE and voting turnout extremely low, shareholders have no immediate liquidity and limited influence on the company's direction under the resolution plan.