Magellanic Cloud Limited has submitted the Exchange a copy Srutinizers report of Extraordinary General Meeting held on Jun 10, 2025
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 an Extraordinary General Meeting (EGM) on June 10, 2025, via video conferencing, where shareholders approved a special resolution to acquire a controlling stake in Finoux Solutions Private Limited through a share swap via preferential allotment. Out of 38,592 total shareholders as on the cut-off date, 127 members voted in favor with 417,661,402 votes (99.99% of votes polled), while only 11 members voted against with a mere 430 votes. Promoter and promoter group, holding 340,713,600 shares, voted 100% in favor of the resolution. The e-voting was conducted through CDSL, and Deep Shukla & Associates acted as the scrutinizer for the process.
The acquisition of Finoux Solutions has been formally cleared by shareholders, paving the way for the deal to proceed. Since the transaction is structured as a share swap through preferential allotment, existing shareholders should expect some equity dilution, but the overwhelming approval signals strong shareholder confidence in the strategic move.