Magellanic Cloud Limited has informed the Exchange regarding Proceedings of Extra-Ordinary General Meeting held on Tuesday, June 10th, 2025 Through Video Conference (VC)/ Other Audio-Visual Means (OAVM). Enclosed is the proceeding of the meeting.
MCLOUD · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Magellanic Cloud Limited held its Extra-Ordinary General Meeting (EOGM) on June 10, 2025, via video conferencing from 12:00 PM to 12:15 PM. The meeting was chaired by Managing Director Mr. Joseph Sudheer Reddy Thumma and had the required quorum present, with 1 promoter shareholder and 55 public shareholders participating. One resolution was transacted: to acquire a controlling stake in Finoux Solutions Private Limited through a swap of equity shares via preferential allotment. The consolidated voting results (remote e-voting plus e-voting during the meeting) are pending and will be announced later after the Scrutinizer's Report is received. M/s. Deep Shukla & Associates was appointed as scrutinizer for the e-voting process.
This is a procedural disclosure of the EOGM and does not confirm whether shareholders approved the Finoux Solutions acquisition. Investors should wait for the voting results to be published to know if the share-swap acquisition will go through. If approved, it would mark a strategic expansion move for the company through a non-cash deal.