Kanpur Plastipack Limited has informed the Exchange regarding Outcome of Board Meeting: Corrigendum to the Notice of EGM.
KANPRPLA · price
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Kanpur Plastipack Limited has rescheduled its Extraordinary General Meeting (EGM) from Thursday, June 12, 2025 to Wednesday, June 11, 2025 at 10:00 AM (physical mode at the registered office in Kanpur) to ensure full compliance with SEBI (ICDR) Regulations, 2018. The company has also issued a corrigendum to the original EGM notice after receiving an observation letter from NSE on May 26, 2025, which directed the company to rectify and provide additional disclosures. The EGM is being held to seek shareholder approval for a proposed preferential issue of 10,12,000 warrants convertible into equity shares at ₹130 per warrant (₹40 upfront + ₹90 on conversion). The total issue size is approximately ₹13.16 crore, with proceeds of about ₹11.84 crore earmarked for repayment of borrowings and ₹1.31 crore for general corporate purposes. E-voting will be available from June 8-10, 2025, with a cut-off date of June 6, 2025.
Shareholders should note the revised EGM date (June 11, 2025) and the e-voting window (June 8-10, 2025) with cut-off date of June 6, 2025. If approved, the preferential issue will lead to issuance of 10,12,000 new equity shares, marginally increasing the total share count from 2.32 crore to 2.42 crore shares; promoter shareholding will move from 67.63% to 67.71%, while public shareholding will slightly dilute from 32.37% to 32.29%.