Notice of Postal Ballot of Rose Merc Limited.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Rose Merc Limited has issued a postal ballot notice dated October 29, 2025, seeking shareholder approval for payment of AED 10,869,540 (approximately Rs. 24.99 crore / ~Rs. 25 crore) to Emirates Holding FZ LLC in tranches from November 2025 to March 30, 2027. The payment represents the deferred consideration for subscribing to 43 shares (30.07% stake on a fully diluted basis) in Emirates, originally agreed under a Share Subscription Agreement dated December 22, 2024, and revised through three amendment agreements (March 27, 2025; August 29, 2025; October 10, 2025). Emirates became a Board-controlled subsidiary of Rose Merc in March 2025 and is therefore a related party under SEBI LODR Regulations, which is why shareholder consent is now being sought under Regulation 23. Remote e-voting is open from Thursday, October 30, 2025 (9:00 a.m.) to Friday, November 28, 2025 (5:00 p.m.) via MUFG Intime India's InstaVote platform. Note: the resolution is labeled 'Special Resolution' in the resolution text but referred to as an 'ordinary resolution' in the explanatory statement – this inconsistency is worth flagging.
Since Emirates is a Board-controlled subsidiary of Rose Merc, this ~Rs. 25 crore outflow is effectively an internal group-level capital infusion/deferred subscription payment rather than a third-party transaction. For shareholders, the key takeaway is that cash outflow of roughly Rs. 25 crore will be spread over ~17 months from Nov 2025 to Mar 2027, and rejection of the resolution could delay or disrupt the funding schedule for the subsidiary.