Jet Freight Logistics Limited has informed the Exchange regarding Proceedings of Extraordinary General Meeting held on February 20, 2026. Further, the company has submitted the Exchange a copy of Scrutinizers' report along with voting results.
JETFREIGHT · price
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Jet Freight Logistics Limited held an Extra Ordinary General Meeting on February 20, 2026, via video conferencing. The EGM commenced at 11:36 AM and concluded at 12:00 PM, with 58 shareholders attending through VC out of 21,262 on the record date. A single special resolution was passed unanimously with 100% votes in favour — approval to issue up to 4,04,57,750 warrants convertible into equity shares to members of the promoter group and non-promoter category on a preferential basis. Total valid votes in favour were 2,42,74,490, representing 52.31% of the total 4,64,03,784 outstanding shares, with zero votes against. Promoters and promoter group (who are interested in the resolution) voted 2,36,26,452 shares in favour, while public non-institutional shareholders voted 6,48,038 shares in favour. The Scrutinizer's Report confirmed the resolution was passed with the requisite majority.
Shareholders have approved a preferential issue of up to 4.04 crore convertible warrants, which is a large potential equity dilution event (warrants could convert into shares roughly equal to the current share count of 4.64 crore). Since promoter group is an interested party, this signals capital infusion from insiders but will dilute existing public shareholders' stakes upon conversion.