With regards to the captioned matter and pursuant to Regulation 30 and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( Listing Regulations ), we wish to inform you that at the meeting of the Board of Directors of Prudential Sugar Corporation Limited held today i.e., Saturday, May 31, 2025 at the Registered Office of the Company situated at Akash Ganga, 4th Floor, Plot No.144, Srinagar Colony, Hyderabad 500 073, Telangana, India, the Board of Directors of the Company ( Board ) has discussed, deliberated, considered and approved the following matters:1. The Board approved convening an Extra-ordinary General Meeting ( EGM ) of the shareholders of the Company on Saturday, June 28, 2025, through video conferencing or other audio-visual means, to seek necessary approval of the shareholders of the Company, in respect of the Resolution to change the Objects of the Issue mentioned in Para 2 of Page 16 of the Notice of the Extra-ordinary General Meeting dated 24/09/2024 as directed by the BSE. 2. In this regard, the Board has also approved the Notice convening the EGM and the Explanatory Statement annexed thereto, which shall be submitted to the Stock Exchanges and dispatched to the Shareholders in due course, in compliance with the applicable provisions of the Act, the SEBI Listing Regulations and other applicable laws. 3. Approved the appointment of Ms. Ekta Goswami (M.No.A40567), Practising Company Secretary to act as the scrutinizer for remote e-voting process at the Extra-ordinary General Meeting of the Company to be held on June 28, 2025 in a fair and transparent manner.4. Fixing Cut-off Date /E-voting:Pursuant to the provisions of Section 91 of the Companies Act, 2013 read with Rule 10 of the Companies (Management and Administration) Rules, 2014 and Regulation 42 (2) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Board of Directors of the Company have fixed Friday, May 30, 2025 as the cut-off date for sending the Notice of EGM to the members of the Company.Further, pursuant to the provisions of Section 108 of the Companies Act, 2013 read with Rule 20 of the Companies (Management and Administration) Rules, 2014 and Regulations 44 of the Listing Regulations, the Board of Directors of the Company has fixed 20th June, 2025, as the cut-of date to record the entitlement of the shareholders to cast their votes electronically [remote e-voting] during the voting period. The remote e-voting window will open on 25th June, 2025 at 9:00 am and end on 27th June, 2025 at 5:00 pm.The Board Meeting commenced at 01:00 pm and concluded at 04:30 pm.
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The Board of Prudential Sugar Corporation, at a meeting on May 31, 2025, approved convening an Extra-ordinary General Meeting (EGM) on June 28, 2025, via video conferencing. The EGM will seek shareholder approval to change the 'Objects of the Issue' originally stated in the September 24, 2024 EGM notice, as directed by BSE. The Board also approved the EGM notice, explanatory statement, and appointed Ms. Ekta Goswami as the scrutinizer for the remote e-voting process. The cut-off date for sending the notice is May 30, 2025, with remote e-voting open from June 25 (9:00 am) to June 27 (5:00 pm).
Shareholders will be asked to vote on revising how the company plans to use proceeds from its earlier issue. This signals a possible shift in business priorities or execution challenges with the originally stated plans, which may be viewed as a quality concern by investors.