Simplex Infrastructures Limited has submitted the Exchange a copy Srutinizers report of Extraordinary General Meeting held on Jun 23, 2025
SIMPLEXINF · price
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Simplex Infrastructures held an Extraordinary General Meeting (EGM) on June 23, 2025, via video conferencing, where shareholders voted on two special resolutions. Both resolutions were approved with overwhelming majority, over 99.99% in favour. Resolution 1 approves converting part of the outstanding amount owed to ICICI Bank into 10 lakh equity shares under a one-time settlement (OTS). Resolution 2 approves converting part of the loan from National Asset Reconstruction Company Limited (NARCL) into equity shares, giving NARCL a 15% stake on a fully diluted basis under the Master Restructuring Agreement signed on January 15, 2025. The scrutinizer, A. K. Labh & Co., certified the voting process as fair and transparent.
These debt-to-equity conversions will dilute existing shareholders' holdings. NARCL's entry as a 15% equity holder marks a major change in the ownership structure and reflects the company's ongoing debt restructuring. Shareholders should expect some share price pressure from the equity dilution.