Revised Proceedings and Outcome of the Extra- Ordinary General Meeting
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Flomic Global Logistics held its Extra-Ordinary General Meeting (EGM) on 25th July 2025 via video conferencing, commencing at 12:30 PM and concluding at 12:48 PM. Out of 6,318 total shareholders on record, 79 attended — 3 from the promoter group and 76 from the public. The sole item of business was a Special Resolution to alter the Articles of Association of the Company to incorporate provisions enabling the issuance of shares under an Employee Stock Option Plan (ESOP). Remote e-voting was open from 22nd July to 24th July, with additional e-voting during and 15 minutes after the meeting. M/s. HD and Associates were appointed as Scrutinizer; voting results are pending and will be submitted to the stock exchange separately.
The key takeaway is the company's move to set up an ESOP framework by amending its Articles of Association. If approved, this could lead to dilution of existing shareholders when ESOP shares are issued in the future. Voting results are still awaited and will clarify shareholder sentiment on the proposal.