Pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015, please find enclosed the Corrigendum of Notice of Annual General Meeting of the Company.
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Rose Merc Limited has issued a corrigendum to its August 2025 AGM notice, revising the objects of a proposed preferential issue of 2,84,278 equity shares and 2,26,000 convertible warrants to non-promoters. The total planned deployment of approximately Rs. 4.59 crore is now earmarked for: Rs. 2 crore investment in Emirates Holding FZ LLC (UAE), Rs. 1.5 crore for investment/acquisition in other companies, and Rs. 1.09 crore towards working capital and general corporate purposes (salaries, stock-in-trade, and processing/legal fees). Importantly, the company has clarified there will be no capital expenditure as initially envisaged. The stock exchange had directed the company to seek fresh shareholder approval for the revised objects, which will be done via remote e-voting from November 5 to November 6, 2025.
Existing shareholders need to vote on the revised use-of-funds between Nov 5-6, 2025. The removal of capital expenditure plans and redirection of funds toward a foreign subsidiary investment and potential acquisitions signals a strategic shift but could dilute existing shareholders if the preferential issue is approved.