Outcome of the 48th Annual General Meeting of the Members of the Company held on Monday, 2nd June, 2025
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Lloyds Metals and Energy held its 48th AGM on 2nd June 2025 via video conferencing, attended by 63 members, lasting about 23 minutes (12:00 PM to 12:23 PM). The Chairman highlighted FY25 as a defining year with highest-ever sponge iron production, both plants running at full capacity, completion of the slurry pipeline project, and near-completion of the company's first pellet and DRI plants marking its entry into steel manufacturing. The company also reported strongest-ever revenue and profitability, successful capital-raising, and a strategic acquisition of a mining services business. Shareholders voted on 20 resolutions including approval of financial statements, declaration of dividend, director appointments, multiple related party transactions, borrowing limits, and fundraising through private placement/preferential/QIP. A notable resolution seeks shareholder approval to waive excess remuneration already paid to Executive Directors.
Voting results on all 20 resolutions are pending and will be disclosed separately. Shareholders should watch for the dividend declaration outcome and any approvals on fundraising and related party transactions, which could affect capital structure and future dilution. The waiver of excess executive remuneration may attract governance scrutiny.