Kanpur Plastipack Limited has submitted the Exchange a copy of voting result and Srutinizers report of Extraordinary General Meeting held on Jun 11, 2025
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Kanpur Plastipack Limited held an Extraordinary General Meeting on June 11, 2025, where shareholders approved a special resolution for the issuance and allotment of 10,12,000 warrants on a preferential issue basis to promoter and non-promoter category persons. The resolution was passed with overwhelming support, receiving 99.99% of votes in favour, with only 1,149 votes against out of 1,51,25,438 valid votes polled (67.30% of total outstanding shares). Promoters, holding 1,51,17,220 shares, voted 100% in favour of the resolution, while public non-institutions showed 86.02% support. The scrutinizer's report was submitted by Adesh Tandon & Associates, Company Secretaries, confirming the validity of the voting process.
The approval paves the way for the company to issue 10.12 lakh warrants to promoter and non-promoter entities, which will result in equity dilution once these warrants are converted into shares. Existing shareholders may see their stake diluted depending on the conversion terms, but the capital raise could strengthen the company's balance sheet or fund growth initiatives.