Submission of 31St Notice of AGM to be held on 16th September 2025
Awaiting price reaction for this filing.
Popees Cares Limited has issued the notice for its 31st AGM scheduled for Tuesday, 16th September 2025 at 12:00 PM via video conferencing. The agenda includes routine items such as adoption of FY25 audited financials and re-appointment of a director. The most significant item is a proposal to reduce share capital by 99%, setting off accumulated losses of Rs. 6.69 crore (Rs. 5.96 crore from fully paid-up capital and Rs. 2.24 lakh from partly paid-up capital) against the existing paid-up capital of Rs. 6.04 crore. Post-reduction, paid-up capital will shrink to just Rs. 6,02,180, and each shareholder will receive 1 equity share for every 100 shares held. The AGM also seeks shareholder approval to appoint/regularize two Independent Directors, appoint an Executive Director for 3 years, and engage M/s. Lakshmmi Subramanian & Associates as Secretarial Auditors for 5 years from FY26 to FY30.
The capital reduction proposal is highly material — if approved, every shareholder's holding will be reduced to 1/100th of current shares, effectively wiping out 99% of share count to clean up accumulated losses on the books. This will lead to a sharp reduction in outstanding shares but each remaining share will represent a proportionally larger claim. The move requires NCLT approval and, if passed, will restructure the company's capital base while shareholders retain the same overall proportional ownership.