Kapston Services Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot. Further, the company has informed the Exchange regarding voting results.
KAPSTON · price
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Kapston Services Limited conducted a postal ballot (remote e-voting) on two resolutions, both of which were passed with the required majority. Resolution 1 was to approve an increase in authorised share capital and amend the capital clause of the Memorandum of Association. Resolution 2 was to approve the issue of bonus shares to equity shareholders. A total of 1,66,18,621 votes were polled out of 2,02,88,122 outstanding shares, representing 81.91% turnout. Both resolutions received 100% votes in favour, with zero votes against and zero invalid votes. Promoters holding 1,47,83,390 shares voted entirely in favour, while public non-institutional shareholders had a 33.34% polling turnout and also voted unanimously in favour.
The bonus share issue, once executed, will increase the number of shares held by each shareholder proportionally without any cash outflow. While this typically boosts liquidity and makes shares more affordable, it does not change the company's overall value. The authorised capital increase is a procedural step to facilitate the bonus issue.