Oriental Trimex Limited has informed the Exchange regarding Proceedings of Extraordinary General Meeting held on March 26, 2026 at 12:00 P.M.
ORIENTALTL · price
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Oriental Trimex Limited held an Extra-Ordinary General Meeting (EGM) on March 26, 2026, via video conferencing, chaired by Managing Director Rajesh Kumar Punia. The meeting lasted just 11 minutes. Four special business resolutions were put to members for approval through e-voting, and all were passed with the requisite majority. The key items approved include an increase in borrowing limits under Section 180(1)(c) of the Companies Act, 2013, an increase in authorized share capital with a corresponding amendment to the Memorandum of Association, raising of funds through Foreign Currency Convertible Bonds (FCCBs), and authority to grant loans, guarantees, securities, and make investments. Remote e-voting had already taken place between March 23 and March 25, 2026, and final voting results will be published on the company's website, CDSL, and stock exchange websites within two working days.
Shareholders have approved the company's plans to potentially raise additional capital (through share capital increase and FCCBs), increase borrowings, and make investments or extend loans/guarantees. These approvals give the management significant financial flexibility, but the actual impact on shareholders will depend on how and when these powers are exercised. The FCCB issuance, if carried out, could lead to equity dilution upon conversion.