Submission of Voting Results under Regulation 44(3) of SEBI LODR
SIMPLEXINF · price
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Simplex Infrastructures held an Extra-Ordinary General Meeting (EGM) on June 23, 2025, through video conferencing. Two special resolutions were put to vote and both passed with overwhelming majority. Resolution 1 approved the conversion of part of the outstanding amount payable to ICICI Bank Limited into 10,00,000 equity shares under a one-time settlement (OTS), with 31,106,376 votes in favour (99.9992%) and only 253 votes against. Resolution 2 approved the conversion of part of NARCL's outstanding loan into equity shares, giving NARCL a 15% stake in the company on a fully diluted basis under the Master Restructuring Agreement dated January 15, 2025, with 31,105,884 votes in favour (99.9666%) and 866 against. Around 46.27% of outstanding shares participated in the voting.
Both resolutions involve debt-to-equity conversion, which will lead to equity dilution for existing shareholders. NARCL acquiring a 15% stake significantly changes the company's shareholding pattern and reflects ongoing debt restructuring efforts.