Span Divergent Limited - Outcome, Voting Results and Scrutinizer''s Report of Extraordinary General Meeting held on February 20, 2026 pursuant to Regulation 30 and Regulation 44(3) of SEBI ....
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Span Divergent Limited held an Extraordinary General Meeting on February 20, 2026, where shareholders approved a special resolution for a preferential issue of 18,01,481 equity shares at Rs. 32.16 per share (face value Rs. 10) to a single investor, Mr. Neev Nirav Jogani, raising approximately Rs. 5.79 crore. The issue price was determined as per the SEBI ICDR regulations based on a valuation report dated January 23, 2026 by Atharva Valuation (OPC) Private Limited. The special resolution passed with 97.35% votes in favor (33,62,425 votes) and only 2.65% against (91,557 votes), with 63.24% of total share capital participating in the voting. Promoters voted 100% in favor while public non-institutional shareholders voted 72.14% in favor. Post-allotment, the allottee will hold 24.80% of the company's expanded share capital.
The preferential allotment to a single non-promoter investor for a 24.80% stake is a significant dilution for existing shareholders, though it brings in fresh capital of around Rs. 5.79 crore at a premium to face value. The strong voting support (97.35% in favor) indicates broad shareholder acceptance, but investors should note the concentration of shareholding in one new investor post-allotment.