GOCL Corporation Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot
GOCLCORP · price
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GOCL Corporation Limited has received shareholder approval through a postal ballot to disinvest its wholly owned material subsidiary, IDL Explosives Limited (IDLEL). The special resolution was passed with an overwhelming 99.94% of votes polled in favour. Promoters and promoter group (holding approximately 36.1 million shares) voted 100% in support, while public non-institutional shareholders showed 87.28% support. The postal ballot was conducted between May 13, 2025 and June 11, 2025, with 73.16% of total share capital (out of 49.57 million shares) participating in the e-voting process. The total number of shareholders on the cut-off date was 35,654. The Scrutinizer's Report was submitted to the exchanges on June 13, 2025.
This shareholder approval clears the regulatory hurdle for GOCL Corporation to proceed with the divestment of IDL Explosives Limited, which is a material subsidiary. The near-unanimous approval (99.94%) reflects strong shareholder confidence in the transaction, which could unlock value for the company going forward.