Submission of Outcome of Board Meeting held on 15 May 2025
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Awaiting price reaction for this filing.
The board meeting held on 15 May 2025 approved the appointment of Mr. Yogesh Singh Rana as Additional Director and his designation as Executive Whole Time Director for a 3-year term (till 14 May 2028). In the same meeting, Mr. Shah Adnan Khan resigned as Executive Whole Time Director effective 15 May 2025 citing personal commitments. The board also approved sweeping changes to the company's Object Clause and Memorandum of Association, expanding business scope into bio mining, IT/computer hardware-software, real estate and infrastructure, defence and surveillance products, and renewable/green energy (solar, wind, hydro, EVs). These MOA changes require shareholder approval via a postal ballot scheduled from 19 May to 17 June 2025. Additionally, terms of existing loan agreements were revised.
This filing signals a major strategic pivot — the company is moving far beyond its original mining/films identity into IT, defence, real estate, and renewable energy, pending shareholder approval. For shareholders, the simultaneous exit of one whole-time director (KMP) and entry of another, combined with such a wide business expansion, is material and worth monitoring closely through the postal ballot process.