Kellton Tech Solutions Limited has informed the Exchange regarding Corrigendum to Notice of Extra Ordinary General Meeting
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Kellton Tech Solutions has issued a corrigendum to its EGM notice originally dated June 14, 2025, ahead of the Extra-Ordinary General Meeting scheduled for July 11, 2025 at 11:00 AM via video conferencing. The corrigendum relates to a proposed preferential issue of 55,00,000 share warrants, each convertible into one equity share, to bolster working capital and meet general corporate purposes. Key changes include removal of references to Regulation 166A, clarification that promoters Niranjan and Krishna Chintam are interested via Matnic Finvest LLP, and that Karanjit Singh and Srinivas Potluri are also proposed allottees. Updated pre and post-issue shareholding shows total shares rising from 9.75 crore to 10.30 crore, with promoter holding increasing from 40.78% to 42.97% and Matnic Finvest LLP's stake rising from 35.70% to 38.16%. E-voting runs from July 7 to July 10, 2025, and updated links to the EGM notice, valuation report, and PCS certificate have been provided.
Shareholders should review the corrigendum before the July 11 EGM as the preferential warrant issue will dilute non-promoter holdings slightly (from 59.22% to 57.03%) and increase promoter concentration. The use of proceeds for working capital and general corporate purposes is broadly neutral, with no major business disruption expected.