Globe International Carriers Limited has informed the Exchange regarding Corrigendum to Notice of Extra Ordinary General Meeting to be held on May 23, 2025
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Globe International Carriers Limited (GICL) has issued a corrigendum to its EGM notice dated April 24, 2025, following instructions from NSE regarding the company's application for in-principle approval of a preferential issue. The corrigendum revises Resolution No. 4 & 5, reducing the number of equity shares to be issued from 30,69,148 to 30,69,147 and cutting the purchase consideration from Rs. 29,43,31,293.20 to Rs. 29,43,31,197.30. The shares are being allotted to Mrs. Surekha Agrawal at Rs. 95.90 per share (including a premium of Rs. 85.90) as consideration other than cash, against the acquisition of 51% (40,80,000 equity shares) in Govind Kripa Infratech Private Limited (GKIT). The allottee will be classified as a Promoter, with her shareholding rising from 6.02% (15 lakh shares) to 16.33% (45.69 lakh shares) post-issue, and the overall promoter group holding will increase from 58.99% to 63.49%. The EGM remains scheduled for May 23, 2025, and all other contents of the original notice remain unchanged.
This is a minor technical correction (just a 1-share reduction and corresponding ~Rs. 95.90 adjustment in consideration) to an already-disclosed preferential share-swap acquisition, and is unlikely to materially affect shareholder value. However, the underlying transaction will significantly change the promoter shareholding pattern, increasing the promoter group stake from ~59% to ~63.5% and bringing in a new individual promoter. Shareholders should review the revised terms before voting at the May 23 EGM.