Submission of proceedings of Extra-ordinary General Meeting held on 07th May, 2025
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CDG Petchem Ltd (formerly Urbaknitt Fabs Limited) held an Extra-Ordinary General Meeting on 7th May 2025 at 2:00 PM via video conferencing, chaired by Managing Director Manoj Kumar Dugar. Six business items were transacted, including an increase in authorized share capital with a corresponding amendment to the Memorandum of Association (Ordinary Resolution). The company also sought approval for issuing up to 61,58,000 equity shares and up to 7,64,500 convertible warrants to promoter and non-promoter categories on a preferential basis, along with alterations to the object clause and adoption of new MOA and Articles of Association (all Special Resolutions). E-voting was provided to shareholders, with M/s. A.S. Ramkumar & Associates acting as scrutinizer. Results were to be announced later and submitted to BSE.
The preferential issuance of up to 69,22,500 shares/warrants (61.58 lakh equity shares + 7.65 lakh warrants) signals potential equity dilution for existing shareholders, while the expanded authorized capital and altered object clause give the company flexibility for future fundraising or business expansion. Shareholders should watch for the e-voting results and scrutinizer's report for confirmation of approvals.