Submission of voting results of 1st Extra General Meeting of the company held on 24th April, 2025.
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Awaiting price reaction for this filing.
Regency Fincorp held its 1st EGM of FY 2025-26 on 24th April 2025 via video conferencing, where shareholders voted on 4 resolutions. Resolution 1 (re-designating Mr. Sarfaraz Mallick as Executive Director with revised remuneration) and Resolution 4 (ratification of an earlier EGM notice) passed with 100% support. Resolution 2, approving the issue of Secured/Unsecured Redeemable Non-Convertible Debentures on a private placement basis, passed with 99.68% in favour, with about 62,752 votes (0.32%) against. Resolution 3, revising terms of loan agreements with various entities, passed unanimously (100%), but promoters were interested in this resolution and abstained from voting. Total shareholder turnout ranged from about 14.5% to 30.8% across resolutions.
Shareholders have approved a potential fundraise via privately placed NCDs and a related-party loan agreement revision, which could lead to fresh borrowing or debt restructuring by the company. The change in director designation may affect governance and fixed remuneration outflows, though the minor dissent on the NCD resolution suggests limited retail shareholder concern.