Notice of Extra-Ordinary General Meeting (EGM) of the Company scheduled to be held on May 30, 2026.
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The company has called an EGM on May 30, 2026 to seek shareholder approval for 6 resolutions. The key item is a special resolution to issue 33,05,000 fully convertible equity warrants to 8 non-promoter allottees at Rs. 25 per warrant, raising Rs. 8.26 crore. Major allottees include Amit Sadh (10 lakh warrants), Purnima Sharma (10 lakh), Sunny Bakshi (5 lakh), and Fresh Impact Labs Pvt Ltd (4 lakh). Each warrant is convertible into 1 equity share within 18 months. Additionally, the company seeks approval for material related party transactions up to Rs. 13 crore each with JHS Svendgaard Laboratories, PJHS Entertainment (subsidiary), Purple Rock Infra, and Rs. 10 crore each with Magna Waves Buildtech and Nikhil Nanda Motion Pictures LLP, all valid for one year at arm's length.
The preferential warrant issue will dilute existing shareholders by approximately 17.65% upon conversion. The multiple related party transactions worth Rs. 62 crore collectively require careful scrutiny as they involve entities within the JHS Svendgaard group ecosystem.