Submission of Extra-ordinary General Meeting Notice to be held on Thursday, 24th April, 2025 at 12:30 p.m.
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Regency Fincorp Ltd has called its 1st EGM of FY 2025-26 on Thursday, 24th April 2025 at 12:30 PM via video conferencing. Shareholders will vote on four special resolutions: (1) changing Mr. Sarfaraz Mallick's designation from Non-Executive Director to Executive Director with a remuneration of Rs. 12 lakhs per annum for 3 years, (2) approving the issue of secured/unsecured, listed/unlisted redeemable non-convertible debentures (NCDs) of up to Rs. 200 Crores on a private placement basis in one or more tranches, (3) revising terms of loan agreements with various entities including the possible conversion of loans into equity shares, and (4) ratifying the contents of a prior EGM notice dated 3rd October 2024 related to a preferential issue of warrants. Remote e-voting will be open from 21st April (9:00 AM) to 23rd April (5:00 PM) 2025, with a cut-off date of 17th April 2025.
Shareholders should note that approval of Item 2 (Rs. 200 Cr NCD issuance) will expand the company's debt obligations, while Item 3 could lead to equity dilution if loans are converted into shares. The conversion of Mr. Mallick to Executive Director also shifts board composition. All four resolutions require special resolution majority (75%) to pass, so voting participation is important for shareholders.