Fujiyama Power Systems Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot. Further, the company has informed the Exchange regarding voting results.
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Fujiyama Power Systems Limited (NSE: UTLSOLAR, BSE: 544613) has filed the voting results of its Postal Ballot along with the Scrutinizer's Report. The remote e-voting was held from February 5, 2026 to March 6, 2026, with 85,519 shareholders on record. All four resolutions were passed with requisite majority: (1) Ratification of amended ESOP Scheme 2023 (Special) passed with 96.36% in favor; (2) Approval of issuance/listing of equity shares under ESOP Scheme (Ordinary) passed with 96.36% in favor; (3) Increase in borrowing limits under Section 180(1)(c) (Special) passed with 97.10% in favor; (4) Creation of charges, mortgages, and hypothecations on company assets (Special) passed with 97.10% in favor. Promoter group (holding ~80.8% of shares) voted 100% in favor of all resolutions, while public institutional shareholders voted largely against.
Shareholders have cleared the company's amended ESOP Scheme 2023, paving the way for potential equity dilution through stock option exercises. The approved increase in borrowing limits and charge creation authority gives the company greater financial flexibility to raise debt and secure loans, which may fund expansion but could also increase leverage and pledging of assets.