Proceedings of 1st EGM of 2025-26 of the Company held on 30th April 2025 in accordance with regulation 30 of SEBI (LODR) regulations 2015
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Palco Metals Limited held its 1st Extra-Ordinary General Meeting of FY 2025-26 on 30th April 2025 from 11:30 AM to 12:15 PM. Out of 3,386 shareholders on record, 19 attended in person or by proxy. One special resolution was tabled and passed unanimously, with 100% votes in favour and none against. The resolution approves the Scheme of Amalgamation of Palco Metals Limited with Palco Recycle Industries Limited, along with their respective shareholders and creditors. Total votes polled were 19,85,999 out of 40,00,000 shares, representing 49.65% participation. Promoter group polled 65.67% of their holdings (all in favour), while public non-institutions polled 15.33% (all in favour).
Shareholders have unanimously cleared the merger with Palco Recycle Industries Limited, removing a key regulatory hurdle. The next steps will involve NCLT and other approvals before the amalgamation becomes effective, which could reshape the company's structure and shareholder value.