Disclosure of E-Voting Results along with Scrutinizer Report
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Mid East Portfolio Management Ltd conducted a Postal Ballot (record date 06-06-2025, last date of receipt 09-07-2025) with 3,666 shareholders eligible to vote. Two special resolutions were put to vote and both passed with overwhelming support. Resolution 1 — Increase in Authorized Share Capital — received 26,22,717 votes polled (52.14% of outstanding 50,30,000 shares), with 99.9981% in favour (only 50 votes against). Resolution 2 — Issue of Convertible Equity Warrants to identified Non-Promoter persons on a preferential basis — received the same turnout (52.14%) with 99.9977% in favour (only 60 votes against). Promoters holding 12,82,513 shares voted 100% in favour on both resolutions, while public non-institutions polled 35.76% of their holdings with near-unanimous support. The scrutinizer Ankur Gandhi & Associates issued the report on 10-07-2025 confirming the results with zero invalid votes.
The authorized capital hike is likely a precursor to the preferential warrant issue, which, once allotted and converted, will dilute existing equity but bring in fresh capital from identified non-promoter investors. For shareholders, the near-unanimous approval signals broad consensus, though the eventual dilution from warrant conversion is a key consideration.