Submission of Newspaper Clipping of Corrigendum to the notice of the Postal Ballot.
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Awaiting price reaction for this filing.
CLN Energy Limited issued a corrigendum to its Postal Ballot Notice (originally dated April 24, 2025) to clarify Item No. 1 in the Explanatory Statement regarding a proposed preferential issue. The company plans to acquire leasehold land from the Government of Uttar Pradesh for a new manufacturing facility and has already signed an MoU with the UP Government. To meet the FDI eligibility criteria (minimum ₹10 crore foreign direct investment) under the UP FDI and Fortune 300 Companies Investment Promotion Policy 2023, the promoter company CLN Energy Pte. Limited (a foreign entity) will invest at least ₹10 crore through the preferential issue. A new Item No. 2 has been added, asking shareholders to approve the resolution based on this clarification. Shareholders who already voted on Item No. 1 are requested to cast their vote again on Item No. 2 via e-voting, which remains open until 5:00 PM on May 30, 2025. The corrigendum was published in Financial Express and Shah Times.
This is largely a procedural clarification, but it signals the company's intent to set up a new manufacturing facility in Uttar Pradesh backed by FDI from its Singapore-based promoter. Shareholders must re-vote on the new resolution before the e-voting deadline. The stock is unlikely to see a major reaction, though successful land allotment could be a positive long-term catalyst.