The Scrutinizer''s Report on the Voting Results of Postal Ballot dated 01-05-2025
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Awaiting price reaction for this filing.
Jetking Infotrain Ltd conducted a postal ballot (e-voting) from April 2 to May 1, 2025, on two special resolutions. Both were passed with overwhelming majority: 99.9997% and 99.9994% votes in favour respectively. Resolution 1 approves an alteration in the main object clause of the company's Memorandum of Association, potentially signalling a change in business direction. Resolution 2 approves the issuance of equity shares on a preferential basis to select investors. Total 32.43 lakh votes were polled out of 59.08 lakh outstanding shares (54.90% participation). The promoter group voted 100% in favour (22.93 lakh shares), while public non-institutional holders also approved with over 99.99% support.
Shareholders have cleared the way for a preferential equity allotment, which could result in equity dilution depending on issue size and price. The MoA amendment suggests the company may be expanding or pivoting its core business activities, which investors should watch for further disclosures.