Le Merite Exports Limited has informed the Exchange regarding Appointment of Mr Arpit Sharma as Company Secretary & Compliance Officer of the company w.e.f. July 10, 2025.
LEMERITE · price
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Le Merite Exports Limited's board, at its July 10, 2025 meeting, approved a preferential issue of up to 86,400 equity shares at Rs. 320 each (aggregating Rs. 2.76 crore) and up to 10,37,000 fully convertible warrants at Rs. 320 each (aggregating Rs. 33.18 crore), to be allotted to 43 identified non-promoter persons/entities. Warrants require 25% upfront payment with the balance due within 18 months. The board also appointed Ms. Prachi Bansal & Associates as Secretarial Auditor for a five-year term (FY 2025-26 to FY 2029-30) and Mr. Arpit Sharma as the new Company Secretary & Compliance Officer. An EGM has been scheduled for August 4, 2025 to seek shareholder approval for these proposals.
The preferential issue could result in dilution for existing shareholders once the warrants are converted, while raising up to around Rs. 36 crore in capital from non-promoter investors. Shareholders should review the issue price, allottees, and vote on the proposals at the August 4 EGM.