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. Friday, May 16, 2025 at the Registered office of the Company situated at Plot 144, Akash Ganga, Srinagar Colony, Hyderabad, Telangana 500 073, India. The Board of Directors of the Company ( Board ) considered, deliberated and discussed, approved / noted the following matters:01) The Company had proposed to undertake preferential issue of 1,25,00,000 equity shares to persons/entities belonging to non-promoter category. With respect to the same. The Stock Exchanges have identified certain discrepancies with regard to the Clause relating to Objects of the Issue as disclosed at Item No.2 of Page 16 of the Explanatory Statement to the EGM Notice dated September 24, 2024, and other disclosure items. Pursuant to the same, as advised by Bombay Stock Exchange, the Company is in the process of undertaking e-voting process of the shareholders of the Company. The Board has, in this regard, approved the Communication to be sent to shareholders of the Company for undertaking e-voting process and seeking consent for the matter stated therein;02) Undertaking of E-voting process from 22-05-2025 till 24-05-2025;03) Appointment of Ms. Ekta Goswami (M. No. A40567), Practicing Company Secretary to act as the Scrutinizer for remote e-Voting process and to provide the Scrutinizer Report with respect to the result of the e-voting procedure.The Board Meeting commenced at 2:30 P.M., and concluded at 4:00 P.M.
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The Board of Prudential Sugar Corporation met on May 16, 2025 and approved an e-voting process for shareholders from May 22-24, 2025 to seek consent for a proposed preferential issue of 1,25,00,000 (1.25 crore) equity shares to non-promoter persons/entities. This re-voting is being conducted because the Bombay Stock Exchange flagged discrepancies in the 'Objects of the Issue' clause and other disclosure items mentioned in the EGM Notice dated September 24, 2024. The company has also appointed Ms. Ekta Goswami, Practicing Company Secretary, as the Scrutinizer to oversee the remote e-voting process and submit a report on the results.
Existing shareholders should note a potential dilution if the preferential issue is approved. The re-voting reflects regulatory compliance and is procedural, but the final outcome will depend on shareholder consent during the e-voting window.