Submission of voting results for the Extra-ordinary General Meeting held on 07th May, 2025
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Awaiting price reaction for this filing.
CDG Petchem Limited held an EGM on 7th May 2025 via video conferencing, where all 6 resolutions were passed with 100% votes in favour and no invalid votes. Shareholders approved increasing the authorized share capital and amending the Memorandum of Association, followed by issuance of up to 61,58,000 equity shares and 7,64,500 convertible warrants on a preferential basis to promoter and non-promoter categories. Further resolutions covered altering the object clause of the MOA and adopting entirely new sets of the MOA and Articles of Association. Total shares outstanding stand at 30,77,500, with about 53.5% (16,45,753 shares) polled — promoters voted 85.5% of their holding while public participation was just 1%.
This EGM clears the way for a significant preferential share and warrant issuance that will dilute existing shareholders and likely bring in new promoters or strategic investors. The change in object clause and new MOA/AoA, combined with the recent name change from Urbaknitt Fabs, signals a major business pivot toward petrochemicals. Existing public shareholders should watch for the pricing and allottee details of the preferential issue, as the outcomes will reshape the company's ownership and direction.