We enclose herewith the summary of the proceedings of the 32nd Annual General Meeting of the Company held on 27th September 2025.
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The 32nd AGM of Hi-Klass Trading and Investment Ltd was held on September 27, 2025 via video conferencing from 12:30 PM to 12:55 PM. Seven resolutions were transacted, including adoption of audited financial statements for FY ended March 31, 2025, re-appointment of Managing Director Sanjay Kumar Jain (who retires by rotation), and appointment of Mrs. Prachi Todi as Secretarial Auditor for 5 years. Shareholders also approved the regularization of Mr. Dipak Sundarka as a Non-Executive Director and the appointment of Mr. Navin Kumar Jain as an Independent Non-Executive Director. Notably, two capital-related resolutions were passed: an increase in the authorised share capital with a corresponding change to the Memorandum of Association, and the issue of 2 crore (2,00,00,000) convertible warrants on a preferential basis to promoters and non-promoters, which will require scrutiny and voting results in due course.
The preferential issue of 2 crore convertible warrants is the key development — if fully converted, it would significantly expand the share base and dilute existing shareholders, depending on the issue price. Investors should watch for the scrutiny report, which will confirm whether the special resolutions (warrant issue and authorised capital hike) have actually been carried.