Disclosure under Reg 30 of SEBI LODR 2015- Notice of Extra Ordinary General Meeting
Awaiting price reaction for this filing.
Simplex Mills Company Ltd has called an Extra Ordinary General Meeting on 6th May 2026 to seek shareholder approval for selling land pertaining to its closed Textile Plant in Akola, Maharashtra. The textile plant was shut down in 2008 with government permission due to continued losses, and the plant and machinery have already been disposed of. Only the land asset remains. The sale requires a Special Resolution under Section 180(1)(a) of the Companies Act 2015, as it may constitute disposal of substantially the whole undertaking. Proceeds will be used for general corporate purposes. Voting will be conducted electronically through NSDL from 3rd to 5th May 2026.
If approved, this represents the final exit from the textile business, converting a non-operational asset into cash. Shareholders should note this is a significant transaction that may change the company's asset base substantially.