Summary proceedings of EGM held on 31st Day of July, 2025
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Concord Drugs Ltd held its Extraordinary General Meeting (EGM) on July 31, 2025, starting at 10:30 AM and concluding at 10:49 AM, conducted via video conferencing. A total of 64 members attended, with all directors, KMPs, and the scrutinizer present virtually. Three resolutions were transacted and approved by members through remote e-voting and venue e-voting: (1) an Ordinary Resolution to increase the Authorised Share Capital of the company with a consequential amendment to the Memorandum of Association, (2) a Special Resolution for the issue of Equity Shares on a Preferential Basis, and (3) a Special Resolution for the issue of Convertible Warrants on a Preferential Basis. M/s. PSK & Associates was appointed as the scrutinizer for the e-voting process, and the voting results will be submitted to BSE and posted on the company's website shortly.
Shareholders should note potential equity dilution ahead, as the company is set to issue fresh equity shares and convertible warrants on a preferential basis, along with a corresponding increase in authorised share capital. The actual dilution impact will depend on the issue price, number of shares, and conversion terms, which are expected to be detailed in the forthcoming voting results and related disclosures.