Scrutinizer Report for the Extra Ordinary General Meeting dated 22nd October, 2025
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Fredun Pharmaceuticals held an Extra Ordinary General Meeting on October 22, 2025 via video conferencing, where all three special resolutions were passed. Resolution 1 was the issue of convertible warrants on a preferential basis to promoter and promoter group, which received 99.95% support (1,036,876 votes in favour vs 490 against). Resolution 2 was the issue of equity shares on a preferential basis to non-promoters, which passed unanimously with 100% support (1,037,366 votes in favour). Resolution 3 was the issue of convertible warrants on a preferential basis to non-promoters, which received 99.99% support (1,037,219 votes in favour vs 147 against). The meeting had 8,706 shareholders on record, 66 of whom attended via VC, and only about 22% of outstanding shares (4.72 lakh total) participated in voting.
Approval of all three resolutions clears the way for the company to raise funds through preferential allotment of warrants and equity shares to both promoters and non-promoters. Shareholders should expect dilution of their holdings once these instruments are issued and converted, though the strong promoter participation suggests management's continued commitment to the company.