Please find attached intimation under regulation for reappointment of directors proposed in the Board Meeting subject to the approval of shareholders in the ensuing Annual general meeting ....
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ATV Projects India's board, at its meeting on 19 July 2025, approved several items subject to shareholder approval at the upcoming AGM. These include the reappointment of Mr. Arun Kumar Sharma as Whole Time Director and two Independent Directors (Mrs. Payal Sanghavi and Mrs. Deepa Shridhar Rai) for a second 5-year term each. The board also appointed M/s ND & Associates as Secretarial Auditor for 5 years and approved a correction to its surplus land development plan at ATV Nagar from 2.71 acres to 3.29 acres. Additionally, the board cleared the issuance of 25,00,000 convertible warrants at Rs. 41.50 each, aggregating to Rs. 10.375 crore, on a preferential basis to promoter group entity Mahalaxmi Import Export Private Limited. Each warrant can be converted into one equity share within 18 months, with 25% payable upfront and the balance 75% at conversion.
This is largely a housekeeping announcement with routine director reappointments. The preferential warrant issue to the promoter entity signals promoter confidence and intent to increase stake, though it also means potential equity dilution of around 4.5% once fully converted, which existing shareholders should factor in.