Outcome of Meeting of Board of Directors dated 17 May 2025
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Raconteur Global Resources Ltd's board met on 15 May 2025 and approved several key decisions. Mr. Yogesh Singh Rana, a mechanical engineering graduate with 20 years of experience, was appointed as Additional Director and immediately designated as Executive (Whole Time) Director for a 3-year term ending 14 May 2028. Simultaneously, Mr. Shah Adnan Khan resigned as Whole Time Director citing personal commitments, with no material reasons disclosed. The board also approved major changes to the Memorandum of Association, adding new business verticals including IT/software, real estate and infrastructure, defence and surveillance equipment, renewable energy (solar, wind, hydro), and green energy products like EVs and smart grids. Additionally, revisions to loan agreements were approved, and a postal ballot notice was cleared with voting scheduled from 19 May to 17 June 2025.
This is a significant strategic pivot — the company is expanding from its current mining focus into IT, defence, real estate, and renewable energy, subject to shareholder approval via postal ballot. The simultaneous exit of one Whole Time Director and entry of another with a 3-year term signals leadership renewal aligned with the new business direction. Shareholders should watch the postal ballot outcome as it will define the company's future operational scope.