Submission of Annual Report containing Notice of 31st Annual General Meeting (AGM) for FY 2024-25 to be held on Tuesday, 16th September 2025 pursuant to Regulation 34 of the SEBI (LODR) ....
Awaiting price reaction for this filing.
Popees Cares Limited has filed its 31st Annual Report along with the AGM notice for FY 2024-25. The AGM is scheduled for Tuesday, 16th September 2025 at 12:00 PM via video conferencing. The cut-off date for e-voting eligibility is 9th September 2025, with the book closure period running from 10th to 16th September 2025. E-voting will be open from 13th September (9 AM) to 15th September (5 PM). Key items on the AGM agenda include adoption of audited financials, appointment of directors, regularization of two Independent Directors, and a major proposal to reduce share capital by 99% to set off accumulated losses of Rs. 6.69 crore against the existing paid-up capital of Rs. 6.04 crore. If approved, every shareholder will receive 1 equity share of Rs. 10 for every 100 shares held. The company has also proposed appointing Lakshmmi Subramanian & Associates as Secretarial Auditors for a 5-year term.
The 99% share capital reduction is the most consequential item — shareholders would effectively end up holding just 1 share for every 100 they currently own, while accumulated losses get wiped out. While this improves the company's balance sheet, it represents a massive dilution in holdings. Shareholders should review the scheme carefully and vote via e-voting between 13-15 September 2025.