Scrutinizer''s Report of Extra General Meeting held on 18th December, 2025
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
EPIC Energy Limited held an Extra-Ordinary General Meeting on 18th December 2025 via video conferencing, where all three special resolutions were approved by shareholders with overwhelming majority (over 99.99% in favour). The key resolution authorises the issue of up to 38,00,000 convertible warrants on a preferential basis to persons belonging to the promoter/promoter group and non-promoter group, with promoters declared as interested parties. The other two resolutions adopt a new set of Memorandum of Association and Articles of Association. Voting was conducted through CDSL's remote e-voting and e-voting at the meeting, with 48 shareholders casting 24,72,178 votes (about 34.28% of the 72,11,500 total shares). Scrutiniser CS Vijaykumar Tiwari confirmed all resolutions were passed with the requisite majority.
The preferential warrant issue of up to 38 lakh warrants is potentially highly dilutive — if fully converted, it could increase the share count by roughly 52% over the existing 72.11 lakh shares, leading to significant equity dilution for current shareholders. Adoption of new MOA and AOA likely aligns the company's constitutional documents with the planned capital raise. Existing public shareholders should watch for the warrant issue price and conversion terms, as these will determine the actual dilution and any value transfer.