Corporate Merchant Bankers Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 13/05/2025 ,inter alia, to consider and approve Board Meeting Intimation ....
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Corporate Merchant Bankers Ltd has informed the stock exchanges that its Board of Directors will meet on Tuesday, May 13, 2025. The key agenda items include: (1) proposing an increase in the company's Authorized Share Capital along with a corresponding change in the Memorandum of Association, (2) approving the conversion of an existing loan into equity shares (potentially in multiple tranches) under Section 62(3) of the Companies Act, 2013 and SEBI's ICDR Regulations, and (3) finalising the draft notice for an Extra Ordinary General Meeting (EOGM) to seek shareholder approval for these actions. The company is listed on BSE (Scrip Code: 540199) and MSEI (Symbol: CMBL). The conversion and capital increase are subject to shareholder and stock exchange approvals.
This announcement signals a potential equity dilution event for existing shareholders, as loans are planned to be converted into equity shares. If approved, this will increase the share count and alter the ownership structure. Shareholders should watch for the EOGM notice and any details on conversion price and number of shares to be issued, as these will determine the dilution impact.