Please find the attached EGM Notice.
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Sikozy Realtors Limited has called an Extraordinary General Meeting (EGM) on August 8, 2025 (via video conferencing) to seek shareholder approval for reducing its paid-up equity share capital by 90%. The company proposes to cancel 4,01,24,700 equity shares of Re. 1 each out of the existing 4,45,83,000 shares, bringing the paid-up capital down from Rs. 4.46 crore to Rs. 44.58 lakh (44,58,300 shares). The reduction is aimed at writing off Rs. 4.01 crore of accumulated losses against the share capital — out of total accumulated losses of Rs. 6.04 crore as on March 31, 2024. The losses stem from failed joint-venture real estate projects in Karjat and Mumbai. The scheme requires approval from the NCLT (Mumbai Bench), and there is no cash payout to shareholders.
Every shareholder will see their share count reduced proportionally by 90% (effectively a reverse split — 10 shares become 1), with no monetary compensation. This is a balance-sheet cleanup exercise, not a return of capital, so proportional ownership remains unchanged. The move highlights ongoing financial weakness and failed past ventures, which may weigh on stock sentiment, though management argues it will help the company raise fresh funds in the future.