Scrutinizer''s Report for the EGM held on 11th April,2025 at 2:00 PM at Registered Office of the Company
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Mercury Trade Links held an Extra-ordinary General Meeting (EGM) on 11th April 2025 at its registered office in Ahmedabad, where shareholders voted on three special resolutions. Resolution 1 (reclassification of authorised equity share capital and alteration of MOA) failed: only 51,850 shares (3.75%) voted in favour versus 13,31,608 shares (96.25%) against. Resolution 2 (sub-division of share capital into smaller amounts) also failed with the identical 3.75% in favour and 96.25% against. Notably, all remote e-voters supported both resolutions, but shareholders voting at the venue overwhelmingly rejected them. Resolution 3 (addition in object clause of MOA) passed easily with 13,83,454 shares (99.99%) in favour and just 4 shares against.
Shareholders decisively rejected the company's plans to reclassify its authorised share capital and sub-divide its shares, putting both capital restructuring proposals on hold. Only the addition to the company's object clause was approved. This signals that the management will need to regroup on its capital structure plans before approaching shareholders again.