Notice of Extra-Ordinary General Meeting as attached herewith.
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Awaiting price reaction for this filing.
Evoq Remedies has called an EGM on 3rd June 2025 (3:00 PM, via video conferencing) to seek shareholder approval for four key items. First, increasing authorised share capital from Rs. 25 crore (2.5 crore equity shares) to Rs. 42 crore (4.2 crore equity shares) of Rs. 10 face value each. Second, issuing up to 1 crore equity shares at Rs. 10 each (aggregating Rs. 10 crore) on a preferential basis to six non-promoter entities, as consideration for acquiring a 50.36% stake in Spazio Formulations Limited through a share swap. Third, issuing up to 63.36 lakh equity shares worth Rs. 6.33 crore to Managing Director Bhumishth N Patel (promoter) in exchange for acquiring 71.95% of Poshan Nutriwell Private Limited. Fourth, altering the object clause of the MoA to include agriculture produce and agro-based products businesses. E-voting runs from 31st May (9:00 AM) to 2nd June (5:00 PM), with cut-off date of 27th May 2025.
Existing shareholders will see dilution from the preferential issuances, but the company expands its business via acquisitions funded entirely through share swaps (no cash outflow). Adding new agro-related business objects signals diversification beyond the current pharma focus. Share price reaction will depend on shareholder perception of the value being exchanged and the strategic fit of the target companies.