Please find enclosed herewith outcome and summary of proceedings of 34th AGM held on 30th September 2025 under Regulation 30 of SEBI (LODR) 2015.
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Mid East Portfolio Management Ltd held its 34th AGM on September 30, 2025, via video conferencing, which concluded in 25 minutes with 31 shareholders attending. Shareholders approved the audited financial statements for FY ended March 31, 2025, re-appointed Mr. Kishor A. Shah as a director (retiring by rotation), and appointed M/s. Motilal & Associates LLP as the new statutory auditor for one year. The key approvals were under Special Business, including raising the authorised share capital from Rs. 10 crore to Rs. 27.05 crore (comprising up to 2.505 crore equity shares of Rs. 10 each) and the issuance of up to 60 lakh convertible equity warrants to non-promoter public category allottees at Rs. 25 per warrant, potentially raising up to Rs. 15 crore on a preferential basis. The meeting also confirmed the appointment of Ms. Poonam Kishor Shah as Executive Director and CFO for three years, two new Independent Directors, the re-appointment of an existing Independent Director for a second term, and VKM & Associates as Secretarial Auditor for FY 2025-26.
The most significant item is the preferential allotment of up to 60 lakh warrants at Rs. 25 each (a premium to the Rs. 10 face value), which could raise up to Rs. 15 crore but also means significant potential equity dilution for existing shareholders once warrants are converted. The boost in authorised capital from Rs. 10 crore to Rs. 27.05 crore supports this and future fundraising plans. The complete overhaul of the board and statutory auditor signals a new strategic phase for the company.