Super Spinning Mills Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot
SUPERSPIN · price
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Super Spinning Mills Limited has announced the results of a postal ballot conducted through remote e-voting, which concluded on 23rd July 2025. The single special resolution sought shareholders' approval to sell, lease, or otherwise dispose of the land and building at 'Elgi Towers' in Coimbatore, Tamil Nadu, which also serves as the company's registered and central office. Out of 69 members casting 2,37,33,419 valid votes, 63 members holding 2,37,32,527 shares (nearly 100%) voted in favour, while only 6 members with 892 shares voted against. Public shareholders, who are subject to a separate approval threshold under SEBI rules, also voted overwhelmingly in favour at 99.90%. The resolution has been declared as passed with requisite majority by the Chairman and Managing Director based on the Scrutinizer's report from M/s. MDS & Associates LLP.
Shareholders have approved the sale or disposal of the company's own registered office property at Elgi Towers, Coimbatore. This signals a significant asset monetisation move that could bring in substantial cash for the company. Investors should watch for the actual sale transaction and the use of proceeds, as this could materially impact the company's financial position and future operations.