Declaration Of Voting Result and Scrutinizer''s Report for the Extra Ordinary General Meeting Held on 19th August 2025.
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Sancode Technologies held an Extra Ordinary General Meeting on August 19, 2025, where both resolutions on the agenda were passed unanimously. The first resolution was to increase the company's Authorized Share Capital, which received 32,20,498 votes in favor (100%) and zero against. The second resolution was a Special Resolution to issue 11,11,111 Convertible Warrants on a preferential basis for cash, where 2,67,977 valid votes were cast entirely in favor (100%), with no votes against. Notably, votes from interested directors and shareholders (totaling about 29,52,521 shares) were declared invalid for this resolution since promoters were interested in the preferential warrant issuance. The total shareholding base on record date (Aug 12, 2025) was 40,68,867 shares across 249 shareholders, with promoters holding about 72.6%.
Shareholders have cleared the way for a potential equity raise via 11.11 lakh convertible warrants on a preferential basis. This could lead to future dilution if the warrants are converted, but the voting shows strong support from non-interested public shareholders. The authorized capital increase provides the company room to issue more shares in the future.