Le Merite Exports Limited has informed the Exchange about Corrigendum to the Notice of the Extra-Ordinary General Meeting
LEMERITE · price
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Le Merite Exports Limited has issued a corrigendum to the notice of its EGM scheduled for August 4, 2025. The main change is the removal of Mr. Pawar Pradeepchandra N from the list of proposed allottees, which has reduced the number of equity warrants from 10,37,000 to 10,27,000 and the warrant issue size from Rs. 33.18 crore to Rs. 32.86 crore. The total preferential issue remains Rs. 35.62 crore, comprising 86,400 equity shares at Rs. 320 each (Rs. 2.76 crore) and 10,27,000 warrants at Rs. 320 each. All allottees are from the non-promoter (public) category and the floor price was determined at Rs. 303.19 per share based on the 10-day VWAP as of the relevant date of July 4, 2025. Post-allotment, promoter holding will dilute from 62.22% to 57.95% while public holding will rise from 37.78% to 42.05%, with no change in management or control. The proceeds are intended for strategic investments/acquisitions (Rs. 26.72 crore) and general corporate purposes (Rs. 8.91 crore), to be utilized within 12 months of receipt of funds.
This is a procedural correction (corrigendum) that slightly trims the warrant issue size, and the underlying preferential allotment to non-promoters will result in promoter shareholding dilution of about 4.27%. Shareholders should review the revised allotment list and the reduced issue size before the EGM vote on August 4, 2025, though the fundamental capital-raising plan remains unchanged.