we have enclosed result of voting of Corrigendum (First) and Scrutinizer Reports thereon.
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Eco Recycling Ltd has announced the results of its e-voting on Corrigendum (First) regarding a preferential issue of 3 lakh convertible warrants. The BSE had directed the company to correct the warrant pricing from Rs. 408 to Rs. 411 per warrant in line with SEBI ICDR Regulation 164. The resolution passed with 100% shareholder approval, with all 14,154,116 valid votes cast in favour. Promoters and promoter group voted 100% in favour (14,153,451 votes), while public non-institutions showed very low participation with only 665 votes out of 5,033,531 shares held (0.0132%). No votes were cast against the resolution. The scrutinizer report was submitted by CS Shri Prakash Shenoy of SAP & Associates.
The preferential issue of warrants will result in potential share dilution of approximately Rs. 12.33 crore when converted. Since promoters are interested parties and voted unanimously in favour, minority shareholders should monitor the eventual conversion and its impact on their holdings.