Outcome of Postal Ballot and Disclosure of Voting Results as per requirements of Regulation 44 (3) of SEBI (LODR) Regulations 2015 along with the Scrutinizer Report.
Awaiting price reaction for this filing.
Carnation Industries Ltd has informed BSE that all five special resolutions put to vote through a Postal Ballot (remote e-voting) have been passed with overwhelming majority. The resolutions covered: (1) Change in the Company's name along with changes to the Memorandum and Articles of Association, (2) Approval to raise funds through issue of securities, (3) Increase in Authorized Share Capital with MoA amendment, (4) Shifting of the Registered Office from one state to another, and (5) Maintaining minimum public shareholding of 25%. Out of 3,457,160 total shares, 3,130,910 votes (90.56%) were polled, with promoters (holding 3,110,864 shares) voting 100% in favour. Public shareholders polled 20,046 votes, with 99.57% in favour. Each resolution was approved with about 99.997% votes in favour and only 0.003% against.
Shareholders have green-lit potentially major corporate changes including a possible name change, future fundraising through new securities, an increase in authorized share capital, and a registered office shift to another state. These approvals open the door for future share issuance and capital raising, which could lead to dilution, while the name and office changes may signal a strategic repositioning of the company.