Gist of the proceeding of the Extra-Ordinary General meeting ("EGM") of Sancode Technologies Limited held on 19th August 2025.
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Awaiting price reaction for this filing.
Sancode Technologies Ltd held its Extra-Ordinary General Meeting (EGM) on Tuesday, 19th August 2025 at 1:00 PM at its registered office in Andheri (East), Mumbai, which concluded at 3:00 PM. Mr. Mihir Deepak Vora, Managing Director, chaired the meeting and confirmed quorum. Two special business items were placed before members for consideration: (1) increasing the authorized share capital of the company, and (2) approving the issuance of 11,11,111 convertible warrants on a preferential basis for cash consideration. Members were provided remote e-voting facility through Bigshare Services Private Limited between 16th August (9:00 AM) and 18th August (5:00 PM), with ballot paper voting also available at the meeting venue. Voting results are to be announced separately to the stock exchange and uploaded on the company's website.
The proposals — a hike in authorized share capital and issuance of 11,11,111 convertible warrants on a preferential basis — signal potential dilution for existing shareholders. Shareholders should watch for the voting results and the final terms of the warrant issue, as preferential allotments typically favor specific investors and may affect share price in the short term.