Please find attached Outcome of Board Meeting.
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Olatech Solutions Ltd's Board, at a meeting on April 7, 2025, approved advancing loans, giving guarantees, or providing security under Section 185 of the Companies Act, 2013, for an aggregate amount not exceeding Rs. 50 Crores. However, this proposal is subject to shareholder approval. To obtain that consent, the Board approved a draft Postal Ballot notice and appointed Mr. Nikunj Kanabar (of M/s Nikunj Kanabar & Associates) as the Scrutinizer to oversee the e-voting process. The Board also fixed the cut-off date for determining shareholder entitlement for the e-voting. The meeting ran from 4:30 PM to 5:10 PM.
Shareholders will soon receive a Postal Ballot notice to vote on the Rs. 50 Crore loan/guarantee proposal. The outcome of this vote will determine whether the company can proceed with these financial commitments, which could have implications for the company's capital structure and related-party exposure.