Intimation for Alteration of Object clause under regulation 30 of (LODR) Regulation 2015
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The board of HOMRE Ltd, at its meeting on 16 June 2025, approved adding a new clause (Clause 16) to the Main Object Clause of the company's Memorandum of Association to expand into the renewable energy sector. The new clause covers generation, manufacturing, trading, transmission, distribution, and supply of power from renewable sources including solar, wind, hydro, biomass, bioenergy, geothermal, and tidal energy. It also allows the company to undertake project development, set up solar and wind farms, manufacture renewable energy equipment, offer consultancy and project management services, and raise funds for such operations. The alteration is subject to approval of shareholders at the ensuing Annual General Meeting.
This signals a major strategic diversification into the renewable energy sector, which could open new growth avenues but also represents a significant shift from the company's existing operations. Shareholders will need to approve the change at the upcoming AGM before the company can formally enter this space.