Notice of Postal Ballot.
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Raconteur Global Resources Ltd has sent a Postal Ballot notice to shareholders seeking approval via remote e-voting between 19 May 2025 and 17 June 2025 on four items. Item 1 is the appointment of Mr. Yogesh Singh Rana (DIN: 05304811), aged 41, an engineering graduate with 20 years of mechanical sector experience, as a Director of the company. Item 2 is his appointment as Whole-Time Director for 3 years (15 May 2025 to 14 May 2028) with a proposed remuneration of Rs. 50,000 per month. Item 3 proposes a major change to the company's Objects Clause by adding several new business areas including mining (including bio mining), IT hardware/software services, real estate and infrastructure, defence surveillance products, and renewable energy (solar, wind, hydro, biomass). Item 4 seeks approval to revise the terms of existing loan agreements with various entities, including the possibility of converting those loans into equity shares. Both director-related resolutions are Ordinary Resolutions, while the MOA change and loan revision are Special Resolutions requiring a higher voting threshold.
Shareholders should evaluate Item 3 carefully as it represents a significant diversification of business activities away from the company's original film-related operations into mining, IT, defence, real estate, and green energy sectors. Item 4 could result in dilution of existing shareholders if any loans are converted into equity shares. E-voting closes on 17 June 2025, and members on the record date of 16 May 2025 are eligible to vote.