Pavna Industries Limited has submitted the Exchange a copy Voting Results under Regulation 44
PAVNAIND · price
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Pavna Industries has submitted the voting results of its postal ballot, where shareholders approved two resolutions with overwhelming majority. The first resolution approves a 1:10 stock split, sub-dividing each equity share of face value Rs. 10 into 10 shares of Re. 1 each. The second resolution approves the corresponding alteration of the Capital Clause in the Memorandum of Association. Of the 91.2 lakh votes polled (65.36% of 1.395 crore outstanding shares), 99.98% voted in favour of the stock split and 99.98% voted in favour of the MOA amendment. Promoters (holding ~61.5% of shares) voted 100% in favour of both resolutions.
Both resolutions have been passed, meaning the stock split (Rs. 10 → Re. 1) and related MOA changes are now approved by shareholders. Existing shareholders will end up holding 10 shares for every 1 share they currently own once the split is effective, typically improving liquidity and making the stock more affordable for retail investors. No material dissent was seen, so execution should proceed smoothly.