RKEC Projects Limited has submitted the Exchange a copy Srutinizers report of Extraordinary General Meeting held on Jun 25, 2025. Further, the company has informed the Exchange regarding voting results along with copy of minutes.
RKEC · price
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RKEC Projects Limited held an Extra-Ordinary General Meeting on June 25, 2025, via video conferencing. Five special resolutions were put to vote and all were passed with overwhelming majority (over 99% in favour). These included: (1) Re-appointment of Lt. Gen. P R Kumar as Independent Non-Executive Director for a second 5-year term, (2) Alteration of the Object Clause of the Memorandum of Association, (3) Amendment of the Articles of Association, (4) Approval of a Loan Agreement between the company and its Promoter/Promoter Group, and (5) Issuance of equity shares to the promoter via partial conversion of an existing unsecured loan on a preferential basis. Voting was conducted through remote e-voting and e-voting during the EGM, with NSDL acting as the e-voting platform. E-voting was open from June 22 to June 24, 2025.
Shareholders should note the preferential equity issuance to the promoter via loan conversion will result in equity dilution for existing public shareholders. The change in object clause and AOA amendment signals a potential shift in business direction, and the promoter-related loan agreement is a related-party transaction that warrants monitoring.