Submission of Voting Results of Annual General Meeting of the Company
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Dhanashree Electronics Ltd submitted the voting results of its Annual General Meeting held on 11th April 2025 via video conferencing, which lasted just 6 minutes (3:08 PM to 3:14 PM). Of 2,103 shareholders on record, only 18 attended (10 promoters/promoter group and 8 public). Two resolutions were passed with near-unanimous support: (1) an Ordinary Resolution to increase the Authorised Share Capital and alter the Capital clause in the Memorandum of Association, and (2) a Special Resolution to issue convertible warrants on a preferential basis to persons/entities belonging to the 'Promoter and Promoter Group' as well as the 'Non-promoter' category. Both resolutions received 100% of polled votes in favour (10,789,028 votes in favour vs just 3 votes against), with about 76% of outstanding shares participating in the voting.
Shareholders have cleared the way for the company to raise capital through a preferential issue of convertible warrants to promoters and other entities, along with an increase in authorised share capital. This is a dilutive event — once warrants are converted, existing shareholders will see their holding percentage reduced — but the strong promoter backing (100% promoter vote in favour) signals management's commitment to fund the company's growth.