Mold-Tek Technologies Limited has informed the Exchange regarding Notice of Extraordinary General Meeting to be held on March 30, 2026
MOLDTECH · price
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Mold-Tek Technologies Limited has called an Extraordinary General Meeting on March 30, 2026, at 11:30 AM via video conferencing. The sole special business is the preferential allotment of up to 2,90,000 equity shares (face value Rs. 2 each) at Rs. 164 per share, aggregating to about Rs. 4.76 crore. The shares are proposed to be allotted to Mr. Richard Leon Cannyn, a non-promoter individual based in the United States, with a premium of Rs. 162 per share built into the issue price. The Board approved this proposal on February 28, 2026, and the relevant date for pricing under SEBI ICDR rules is February 27, 2026. Remote e-voting opens on March 26, 2026, and ends on March 29, 2026, with the cut-off date for eligibility being March 23, 2026. Approval is sought through a special resolution from shareholders.
If approved, the company will raise around Rs. 4.76 crore from a single non-promoter investor, which will lead to a modest dilution of existing shareholders. The issue price of Rs. 164 is significantly above the face value of Rs. 2, suggesting the investor sees long-term value. Shareholders should review the rationale and use of funds before voting at the EGM.