Filing of Scrutinizer''s report on the postal ballot
SALZERELEC · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Salzer Electronics conducted a postal ballot via remote e-voting from April 7 to May 6, 2025, with results declared on May 7, 2025. Two special resolutions were put to shareholders: (1) increasing the company's borrowing powers under Section 180(1)(c) of the Companies Act, 2013, and (2) creating mortgage/charge on movable and immovable properties under Section 180(1)(a). Both resolutions were approved with overwhelming majority – 99.99% votes in favour on each. Out of 17,682,737 total shares, 7,376,950 shares (41.72%) were polled. Promoter group voted 100% in favour with all 6,638,271 of their shares. Only 427 votes (Resolution 1) and 444 votes (Resolution 2) were cast against the proposals.
Shareholders have approved raising the company's borrowing limit and allowing it to pledge assets as security for those borrowings. This gives Salzer Electronics greater flexibility to raise debt for expansion or working capital needs, which could signal upcoming growth investments but also higher leverage.