ENCLSOED HEREWITH BOARD MEETING OUTCOME DATED 21/06/2025
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The Board of Integrated Hitech Ltd approved a 99% reduction in paid-up share capital to offset accumulated business losses that have exceeded the company's capital base. Post-reduction, the share capital will stand at approximately Rs. 10 lakh, comprising just 1,00,000 equity shares (down from roughly 10,00,000 shares). The relevant date for this reduction is fixed as 1st April 2025. The proposal is subject to shareholder approval at the 32nd AGM scheduled for 30th July 2025. The Board also approved the AGM notice, Board's Report, Corporate Governance Report, and fixed 23rd July 2025 as the cut-off date for e-voting eligibility.
This is a highly negative signal for existing shareholders — a 99% capital reduction effectively means shareholders will hold 1 share for every 100 they previously owned, with the value of the reduced shares needing to absorb the same proportionate company value. The stock is likely to see sharp downward pressure, and this signals deep financial distress with accumulated losses wiping out nearly all paid-up capital.