Magellanic Cloud Limited has informed the Exchange regarding Outcome of Board Meeting held on January 09, 2026.
MCLOUD · price
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The board of Magellanic Cloud Limited approved the draft notice for an Extra-ordinary General Meeting (EGM) to seek shareholder approval for a proposed merger with IVIS International Private Limited. The merger will be carried out under the fast-track route as per Section 233 of the Companies Act, 2013, with Magellanic Cloud acting as the Transferee Company. The EGM is scheduled for Tuesday, February 3, 2026, at 12:00 PM via video conferencing. The cut-off date for determining shareholder voting eligibility is January 27, 2026, and Mr. Deep Shukla has been appointed as the Scrutinizer for the e-voting process.
Shareholders will get to vote on the proposed merger of IVIS International into Magellanic Cloud. If approved, the merger will consolidate IVIS International's business into the company, potentially expanding its operations. The stock may see movement closer to the EGM date as investors assess the merger's strategic and financial benefits.