Lancor Holdings Limited has submitted the Exchange a copy Srutinizers report of Extraordinary General Meeting held on April 26, 2025
LANCORHOL · price
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Lancor Holdings Limited has filed the voting results and scrutinizer's report of its Extraordinary General Meeting held on April 26, 2025, conducted via video conferencing. Out of 11,360 shareholders on record date, a total of 38,046,356 votes (52.12% of outstanding shares of 72,995,560) were polled. The single special resolution — to approve the issuance of fully convertible warrants to promoters on a preferential basis — was passed with near-unanimous support, receiving 38,046,259 votes in favour (99.9997%) and only 97 votes against. Promoter and promoter group voted 32,651,546 shares in favour, while public non-institutional shareholders cast 5,394,810 votes, all in favour. The remote e-voting window ran from April 22 to April 25, 2025, and A. Mohan Kumar, Practicing Company Secretary, served as the scrutinizer.
Shareholders have cleared the way for the company to issue convertible warrants to its promoters, which is a signal of promoter confidence and intent to strengthen their holding. If and when these warrants are exercised and converted into shares, it will lead to equity dilution for existing public shareholders, so investors should watch for the pricing and conversion terms in the preferential allotment.