Le Merite Exports Limited has submitted the Exchange a copy Srutinizers report and Voting Result of Extraordinary General Meeting held on August 04, 2025
LEMERITE · price
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Le Merite Exports Limited held an Extraordinary General Meeting on August 4, 2025, via video conferencing, where two special resolutions were passed with 100% votes in favor. Resolution 1 approved the issuance of equity shares on a preferential basis to proposed allottees, while Resolution 2 approved the issuance of equity warrants to certain identified persons/entities on a preferential basis. Out of 1,335 total shareholders, 1,50,15,600 votes were polled (about 61.8% of the 2,42,98,600 outstanding shares), with zero votes against both resolutions. Promoters holding 1,50,87,600 shares fully supported the resolutions and are not interested in the preferential issue. The scrutinizer, M/s. VTSN and Associates LLP, confirmed both resolutions were passed with the requisite majority.
Shareholders have cleared the way for a preferential allotment of equity shares and warrants, which will lead to dilution of existing shareholdings once the allotments are executed. Investors should watch for the next announcement detailing the issue price, number of securities, and identity of allottees, as this will affect share value and ownership structure.