Sical Logistics Limited has informed the Exchange regarding Proceedings of Postal Ballot
SICALLOG · price
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Sical Logistics Limited has concluded the remote e-voting process for a postal ballot on June 14, 2025, for six resolutions seeking shareholder approval. Three ordinary resolutions cover material related party transactions with its ultimate holding company (Pristine Logistics & Infraprojects), immediate holding company (Pristine Malwa Logistics Park), and step-down subsidiary (Sical Bangalore Logistics Park). Three special resolutions seek approval for creating a mortgage on assets of Sical Multimodal and Rail Transport, pledging shares of Sical Infra Assets Limited, and raising a loan with an option to convert it into equity or preference shares upon default. The postal ballot notice was dispatched on May 14, 2025, and e-voting ran from May 16 to June 14, 2025. Voting results are pending — the scrutinizer (M/s KRA & Associates) is yet to submit the report, after which the company will declare the outcome to the stock exchanges.
Voting results are not yet declared, so the immediate impact on shares is limited. However, the resolutions cover significant matters including related party deals, pledging/mortgaging of subsidiary assets, and a convertible loan that could lead to equity dilution for existing shareholders if the loan converts upon default. Investors should watch for the voting result announcement for confirmation of shareholder approval.