Postal ballot results: warrants preferential issue cleared with 99.96 percent support

Board & Shareholder Meetings View source PDF

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AI summary

Mukka Proteins shareholders approved a special resolution to issue warrants convertible into equity shares on a preferential basis via postal ballot. Of 30 crore total shares, about 73.42 percent voted. 99.96 percent voted in favour (about 22.01 crore shares), only 0.04 percent (82,433 shares) against. Promoter group voted 100 percent in favour. A corrigendum was issued on July 6 but no vote revisions were requested.

Likely market impact

Preferential warrant issue approved. Promoter backing is strong, but conversion will dilute equity for existing shareholders.