The outcome/proceeding of the AGM are attached herewith
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LWS Knitwear Ltd held its 36th Annual General Meeting on 30th September 2025 at its Ludhiana office from 10:30 AM to 11:00 AM. Six resolutions were discussed, including adoption of audited financial statements for FY ending 31st March 2025 and the reappointment of Mrs. Kusum Kapoor as a director (retiring by rotation). A special resolution was tabled for reappointing Mr. Girish Kapoor as Managing Director along with a revision in his remuneration, and another for revising the remuneration of Mrs. Kusum Kapoor as Wholetime Director. The meeting also considered a special resolution to enter into a loan agreement with directors Girish Kapoor and Kusum Kapoor, which includes an option to convert the loan into equity shares. Additionally, a secretarial auditor was proposed for appointment via special resolution. The final voting results from remote e-voting and poll are awaited and will be shared later.
The loan agreement with promoter directors carrying an equity conversion option could lead to equity dilution for existing shareholders if the loan is converted. Changes in remuneration of the Managing Director and Wholetime Director will impact the company's expense structure going forward. Shareholders should watch for the voting results, as special resolutions require a higher approval threshold.