Proceedings of the 33rd Annual General Meeting held on 9th September 2025 is attached
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KG Denim Ltd held its 33rd AGM on 9th September 2025 at 4:30 PM at its registered office in Coimbatore, with 48 members present in person and 22 through proxies, meeting the quorum requirement. Six business items were transacted, including adoption of the audited financial statements for FY ending 31 March 2025, re-appointment of two directors (B. Sriramulu and R. Selvakumar) via ordinary resolutions, and appointment of MDS & Associates LLP as Secretarial Auditors for a first term of five years. Two special resolutions were also passed: one to issue warrants fully convertible into equity shares to the promoter on a preferential basis, and another to issue 6% Non-Convertible Cumulative Redeemable Preference Shares through private placement. Voting results (combining remote e-voting and poll) were to be declared within two working days.
The preferential issue of warrants to the promoter signals potential equity dilution for existing shareholders once the warrants are converted. The 6% cumulative redeemable preference share issue through private placement will add to the company's debt-like obligations but provides non-dilutive capital. Director re-appointments indicate continuity in management, while the new secretarial auditor appointment is a routine compliance matter.