Submission of scrutinizer report for the Extra-ordinary General Meeting held on 07th May, 2025
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CDG Petchem Limited held an Extra-ordinary General Meeting (EGM) on 7th May 2025 via video conferencing where all six resolutions were passed unanimously. The resolutions include increasing authorised share capital with corresponding MOA amendment, preferential issue of up to 61,58,000 equity shares, issue of up to 7,64,500 convertible warrants, alteration of the object clause, and adoption of new sets of MOA and Articles of Association. Out of 1,552 total shareholders on the record date (30th April 2025), only 36 shareholders participated in voting, representing 16,45,753 shares (~53.48% of total outstanding). Promoters holding 19,11,052 shares voted 100% in favour, while only ~1% of public non-institutional shareholders cast votes (all in favour). No invalid votes were recorded.
Existing shareholders face potential dilution from the proposed preferential issue of up to 61,58,000 equity shares plus 7,64,500 convertible warrants. The change in the object clause and overhaul of MOA/AoA suggest a potential business pivot or expansion into new areas, which should be monitored. Voting turnout from public shareholders was extremely low, meaning the promoter group single-handedly approved all resolutions.