Silgo Retail Limited has informed the Exchange regarding voting results of Extraordinary General Meeting held on May 10, 2025
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Silgo Retail Limited held an Extra-Ordinary General Meeting on May 10, 2025, where three special resolutions were passed with 100% votes in favor. Total votes polled stood at 1,38,20,776 shares, representing 74.71% of the total 1,84,96,802 outstanding shares. The first resolution approved the issue of equity shares to non-promoter persons on a preferential basis for cash consideration. The second and third resolutions approved the regularization of Mr. Anil Kumawat and Mr. Liladhar Kumawat as Non-Executive Independent Directors of the company. Promoter group holding 1,29,35,274 shares voted fully in favor, while public non-institutions polled 8,85,502 shares (15.92% of their holding), all in favor.
The passing of the preferential allotment resolution gives the company the green light to raise fresh capital from non-promoter investors, which may lead to equity dilution for existing shareholders. The induction of two new Independent Directors strengthens the board's composition and governance structure. Overall, no negative votes were recorded, indicating broad shareholder support, though the actual capital raise amount and allotment price will be key details to watch for.