Extra Ordinary General Meeting (EGM) scheduled to be held on Monday, 19th May, 2025 at 16:00 Hrs (IST)
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Pro ClB Global Limited (BSE: 540703) has called its first Extraordinary General Meeting for FY 2025-26, scheduled for Monday, May 19, 2025 at 4:00 PM IST via video conferencing. The EGM has four items on the agenda: (1) increasing the authorised share capital from ₹6.25 crore to ₹25 crore by creating an additional 1.875 crore equity shares of ₹10 each (a 4x jump), with the stated purpose of facilitating future capital infusion for working capital and general corporate purposes; (2) appointment of CA Manish Agrawal (DIN: 01962004) as Non-Executive Independent Director for a 5-year term starting April 21, 2025; (3) appointment of Ms. Yashvi Shah (DIN: 08002543) as Woman Non-Executive Independent Director for a similar 5-year term; (4) appointment of Mr. Niraj Nirmal Kumar Chamaria (DIN: 02062351) as Non-Executive Director. E-voting runs from May 16, 2025 (10:00 AM) to May 18, 2025 (5:00 PM), with May 12, 2025 as the cut-off date.
The large jump in authorised share capital strongly hints at an upcoming fundraise, which could lead to dilution for existing shareholders if new shares are issued at a discount. The addition of independent and non-executive directors improves board composition and governance. Shareholders should closely monitor any follow-up announcement on a rights issue, preferential allotment, or QIP after the May 19 EGM.