Scrutinizers Report of the EGM held on 12 February 2026
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GTT Data Solutions Limited (formerly Cinerad Communications Limited, BSE scrip 530457) held an Extra-Ordinary General Meeting on February 12, 2026 via video conferencing from 9:00 AM to 9:35 AM, where all 8 resolutions were passed with overwhelming majority. The resolutions include increasing authorised share capital, raising the Section 186 limit for loans and investments, acquiring 1,63,35,593 equity shares of Antworks Solutions India Pvt Ltd (ASIPL) along with approval of a related party transaction, acquiring 10,000 shares of Insurants AI Limited (IAL), and preferential allotments of equity shares for non-cash consideration to selling shareholders of ASIPL and IAL. Two new directors were also appointed — Mr. Hamad Jabor Jassim Al-Thani as Non-Executive Non-Independent Director and Mr. Deepak Abasaheb Shinde as Non-Executive Independent Director. Of the 5,294 shareholders on record date (Feb 6, 2026), about 2.49 crore shares (59.81%) were polled; 6,40,000 promoter shares were excluded from voting because they had been transferred off-market but not yet credited to buyer demat accounts. Promoters abstained from voting on the Antworks acquisition as it was a related party transaction, and public non-institutional shareholders passed it with 99.99% support.
Shareholders should note this is a transformative EGM clearing the way for major acquisitions (Antworks Solutions and Insurants AI) to be funded largely through share swaps, which will lead to significant equity dilution. The related party transaction tag and director appointments signal a strategic reshaping of the company, so existing public shareholders should watch for further disclosures on deal valuations and the post-issue shareholding pattern.