Pursuant to the Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed voting results of Remote e-voting and poll conducted ....
ELITECON · price
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Awaiting price reaction for this filing.
Elitecon International Ltd held an Extra-Ordinary General Meeting on June 02, 2025, where two ordinary resolutions were passed with the requisite majority. The first resolution approved the sub-division (stock split) of equity shares from a face value of Rs. 10 per share to Re. 1 per share, meaning each existing share will be split into 10 shares. The second resolution approved a corresponding alteration to the Capital Clause of the company's Memorandum of Association. Out of 2,151 shareholders on the record date (May 26, 2025), 16 voted on Resolution 1 with 7,90,01,438 votes in favor and none against, while Resolution 2 received 7,90,01,437 votes in favor and just 1 vote against.
The approved stock split will reduce the face value of each share from Rs. 10 to Re. 1, increasing the number of outstanding shares tenfold. This typically improves share liquidity and makes the stock more affordable for retail investors, though it does not change the company's overall market capitalisation. Shareholders should expect the split to be effective shortly once the company announces the record date.