BSE Intimation for voting results and Scrutinizer Report for the AGM held on 26.09.2025
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SPEL Semiconductor held its 40th AGM on 26 September 2025 via video conferencing, where all 7 resolutions were passed. Out of 108,055 shareholders holding 4.61 crore equity shares, about 59.2% of shares (2.73 crore) participated in the e-voting. Routine resolutions including adoption of audited financial statements, re-appointment of Dr. Nakkeeran Ekambaram as Director, appointment of Dr. Nagarajan Govindan as Independent Director, continuation of Mr. Swaminathan Chandramohan beyond age 75, and appointment of the Secretarial Auditor were passed with near-unanimous support (over 99.99% in favour). Two key special resolutions also passed: (1) conversion of Rs. 6.95 crore unsecured loans into preference shares, which received 89.09% support among non-interested shareholders after excluding promoter votes, and (2) approval to sell, lease or dispose of the company's undertaking(s), passed with 99.99% support.
Shareholders should note two significant corporate actions approved at this AGM: a Rs. 6.95 crore debt-to-preference-share conversion (which will alter the capital structure and dilute equity if converted later) and a broad authorisation to sell or lease company undertakings, which could lead to a major divestment or restructuring. These signal potential material changes ahead, though public shareholder participation was very low (only about 20,295 public shares voted).