Annual Report for the FY-2024-25 including notice of 54th AGM
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Remi Edelstahl Tubulars Limited has filed its Annual Report for FY 2024-25 along with the notice for its 54th Annual General Meeting, scheduled for Thursday, August 28, 2025 at 11:30 AM IST via Video Conferencing. The AGM will consider adoption of audited financial statements for the year ended March 31, 2025, re-appointment of a retiring director, ratification of cost auditor remuneration of Rs. 90,000, and appointment of a secretarial auditor for 5 years. Two key special resolutions seek approval for preferential issues: 6,69,226 convertible warrants at Rs. 129.33 each (aggregating Rs. 8.65 crore) to WSG CO., Ltd. (a South Korean entity), and 11,95,893 equity shares at Rs. 129.33 each (aggregating Rs. 15.47 crore) to a promoter group member and non-promoters. The company's business includes stainless steel welded and seamless pipes & tubes, and wind power.
Shareholders should review the proposed preferential allotments closely, as they would result in dilution through issuance of up to 18,65,119 shares/warrants (over Rs. 24 crore total) to a South Korean strategic investor and certain promoter/non-promoter allottees. Voting on these special resolutions at the AGM will determine the company's capital structure expansion.