Notice of the Extra ordinary General Meeting of the Company to be held on February 20, 2026 at 11:30 A.M through video Conferencing/ other Audio Visual Means to transact the Special Business ....
DECNGOLD · price
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Awaiting price reaction for this filing.
Deccan Gold Mines has called an EGM on February 20, 2026 at 11:30 AM via video conferencing to seek shareholder approval, by special resolution, for changing the use of funds from its recently completed Rights Issue of Rs. 314.70 crores (shares listed on December 31, 2025). A portion of the unutilised proceeds is proposed to be redirected to subscribe to the rights issue of Geomysore Services India Pvt Ltd, the company's 26%-owned associate, which is raising about Rs. 200 crores at Rs. 250 per share to support the near-producing Jonnagiri Gold Project. The move is intended to prevent dilution of DGML's stake and protect its strategic and economic interest, while the board has stated that ongoing and proposed projects will not be adversely affected.
Shareholders are being asked to approve a change in how the Rights Issue money is deployed, effectively investing part of those proceeds into the associate Geomysore's gold project rather than the originally stated uses. If passed, this strengthens DGML's exposure to the Jonnagiri Gold asset but delays or alters funding originally earmarked for the Kyrgyzstan subsidiary and general corporate purposes, which could be a watch item for investors focused on capital allocation.