Le Merite Exports Limited has informed the Exchange regarding Notice of Extraordinary General Meeting to be held on August 04, 2025
LEMERITE · price
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Le Merite Exports Limited has called an Extraordinary General Meeting (EGM) on August 4, 2025, at 12:15 p.m. via video conferencing, with remote e-voting open from August 1 to August 3, 2025. Two special resolutions are on the agenda: (1) Issuance of up to 86,400 equity shares of face value Rs. 10 at Rs. 320 per share (including Rs. 310 premium), aggregating up to Rs. 2.76 crore, to 13 non-promoter allottees on a preferential basis. (2) Issuance of up to 10,37,000 equity warrants at Rs. 320 each, convertible into equity shares within 18 months, aggregating up to Rs. 33.18 crore, to 30 non-promoter allottees on a preferential basis. The relevant date for pricing under SEBI ICDR Regulations is July 4, 2025. Cut-off date for e-voting eligibility is July 28, 2025.
If both resolutions are approved, the company could raise up to roughly Rs. 35.95 crore (assuming full warrant conversion), leading to equity dilution for existing shareholders. All allottees are non-promoters, so promoter holding percentage will reduce. Shareholders should evaluate whether the capital raise is justified given the company's growth plans.