Pursuant to the Regulation 44 of SEBI (LODR) Regulations, 2015 we forward herewith the voting results and Scrutinizer''s Report on the resolutions passed at the EGM held on April, 30th ....
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Globe Multi Ventures Ltd (formerly Globe Commercials Ltd) held an Extraordinary General Meeting on April 30, 2025, via video conferencing, where all 9 resolutions were passed with over 99% approval. The key resolution was the preferential issue of 20,79,39,152 equity shares (face value Rs.10 each) on a swap basis to acquire equity shares in CoOptions Corporation Private Limited (CCPL). Other resolutions approved include an increase in authorised share capital, amendments to the Memorandum and Articles of Association, an increase in borrowing powers, mortgage/charge creation powers, investment limits in CCPL under Section 186, approval of shareholders/share purchase agreements, and material related party transaction limits with CCPL. Total voting polled was 28,48,096 shares out of 60,02,000 shares (47.45% turnout), with 5,667 shareholders on record. All resolutions were independently scrutinised by S.V.N. Charyulu, Practising Company Secretary, and declared validly passed.
Existing shareholders will face significant dilution as roughly 20.79 crore new shares are set to be issued via swap for the CCPL acquisition — this will dramatically expand the share count. Investors should watch for the next steps on the CCPL acquisition timeline and closely examine the related party nature of the deal and valuation of CCPL, as this is a sizeable transformative transaction for a small-cap company.