Scrutinizer''s Report and Voting Results for the 1st EGM of the Company for FY 2026-27 held on 25.04.2026
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Midland Polymers Limited held its 1st Extra-Ordinary General Meeting on April 25, 2026 via video conference. All 9 special resolutions were passed with 100% shareholder approval. Out of 668,760 total shares, 456,150 votes (68.21%) were polled by 7 shareholders. Promoter group voted their full 37,850 shares while public shareholders voted 418,300 out of 630,910 shares held. Key approvals include increase in authorised share capital, issue of equity shares and convertible warrants on preferential basis to non-promoters (both for cash and non-cash consideration), alteration of the Memorandum of Association to change the object clause, increase in borrowing limits, power to create charges on assets, higher investment/loan limits, and appointment of Mr. Sreeram Athota as an Independent Director.
The approvals enable the company to raise capital through preferential issuances to non-promoters and expand its borrowing/investment powers. While dilution may occur for existing shareholders from new share/warrant issuances, the changes suggest the company is pursuing growth opportunities. The 100% approval and low participation rate indicate a controlled shareholder structure.