Outcome of the postal ballot proceedings conducted by the Company for seeking the approval of the resolutions enumerated in the Postal Ballot Notice dated July 22, 2025 along with the ....
Awaiting price reaction for this filing.
SRM Energy Limited announced the results of a postal ballot held from July 24 to August 22, 2025, with results declared on August 23, 2025. Shareholders were asked to vote on two items: (1) a Special Resolution to transfer the company's investment (equity shares) in its wholly-owned subsidiary SRM Energy Tamilnadu Private Limited to Spice Energy Private Limited (the holding company), and (2) an Ordinary Resolution approving related party transactions with Spice Energy Private Limited. Both resolutions passed with 93.34% in favour (13,392 votes) and 6.66% against (956 votes), out of 14,348 total votes polled. Only 0.16% of outstanding shares participated because Spice Energy Private Limited, being a related party and promoter, was barred from voting on both resolutions. The Board will take up further action on the matter in its meeting scheduled for August 26, 2025.
The transfer moves the company's main operating subsidiary up to its holding company, effectively restructuring the group. Minority shareholders have approved both the asset sale and related party transactions, but the extremely low voter turnout (0.16%) means the result reflects only a tiny slice of public shareholders.