In compliance with Regulation 34 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, we are enclosing herewith the Annual Report of the company ....
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Midwest Gold Limited has submitted its Annual Report for the financial year ended March 31, 2025 to BSE, along with the Notice for its 35th Annual General Meeting scheduled for September 30, 2025 at 11:00 AM via video conferencing. The AGM agenda includes adoption of audited financial statements, reappointment of Mr. Baladari Satyanarayana Raju (retiring by rotation), and appointment of CS Munesh Kumar Gaur as Secretarial Auditor for a 5-year term from FY 2025-26 to FY 2029-30. A key special business item is a proposal to issue up to 10,00,000 equity shares at Rs. 1,500 per share (including Rs. 1,490 premium) on a preferential basis to 27 non-promoter allottees, aggregating to Rs. 150 Crores. During the year, Mr. Srinivasappa Anand Reddy resigned as CFO (April 10, 2025) and was replaced by Mr. Palepu Venkatachala Ramakrishna; Mr. Somasekhar Reddy Bhimavarapu was also appointed as a Non-Executive Independent Director.
The proposed Rs. 150 Crore preferential allotment to non-promoter investors at a significant premium could dilute existing shareholders but also strengthen the company's capital base. Shareholders should review the Annual Report and evaluate the preferential issue price and use of funds before voting at the AGM on September 30, 2025.