Submission of Scrutinizer''s Report on Postal Ballot
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Gujarat Cotex Limited has submitted the scrutinizer's report on its postal ballot (e-voting) process conducted via CDSL and Purva Share Registry. Two special resolutions were put to vote. Resolution 1 — Issuance of Convertible Warrants on a Preferential Basis — was passed with 16,29,145 shares (40 members) voting in favour versus only 1,020 shares against, out of 16,30,165 total shares voted. Resolution 2 — Offer, Issue and Allotment of Equity Shares on a Preferential Basis (other than cash) — was passed with 16,29,165 shares (41 members) in favour versus just 1,000 shares against. Scrutinizer Kunjal Dalal (M/s K. Dalal & Co., Practicing Company Secretaries, Surat) confirmed both resolutions were passed with the requisite majority on 28 April 2025.
Shareholders have approved a preferential fundraise that will dilute existing holdings through new warrant and equity share issuances. The near-unanimous approval (>99.9% in favour on both items) signals strong shareholder backing, but retail investors should expect share dilution once the warrants are converted and new shares are allotted.