Disclosure of Voting Results of the EGM of the Company held on Monday, 1st September, 2025 as required under reg 44(3) of SEBI (LODR) Regulations, 2015 along with Scrutinizers Report.
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Polychem Ltd held an Extra-ordinary General Meeting (EGM) on September 1, 2025 via video conferencing. One special resolution was put to vote: to approve the disposal (through assignment or sale) of Gujarat Poly Electronics Limited (GPEL), the company's material subsidiary, specifically the land and building at Plot No. B-18, Gandhinagar Electronic Estate, under SEBI LODR Regulation 24(6). The resolution was passed with overwhelming majority - 211,335 votes (99.999%) in favor and only 2 votes (0.0009%) against, out of 211,337 total valid votes polled. Promoter and promoter group held 210,492 shares and did not declare any conflict of interest in the resolution. The voting was conducted through remote e-voting and e-voting during the EGM, with NSDL acting as the e-voting agency and Ragini Chokshi & Co. as scrutinizer.
Shareholders have approved the disposal of a material subsidiary's physical asset, which could lead to cash inflow or value unlocking for Polychem Ltd. The near-unanimous approval (99.999%) suggests broad shareholder support, though the modest voting turnout (52.3% of outstanding shares) and zero promoter-group votes signal limited active engagement from the largest holders on this specific item.