SWAN CORP LIMITED has submitted the Exchange a copy Srutinizers report of Postal Ballot. Further, the company has informed the Exchange regarding voting results.
SWANCORP · price
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Swan Corp Limited (formerly Swan Energy Limited) sought shareholder approval via postal ballot for a Related Party Transaction with Swan Defence and Heavy Industries Limited (SDHI). The e-voting closed on 2 March 2026, and the scrutinizer (Jignesh M Pandya) confirmed the ordinary resolution was passed with the requisite majority. Of the valid votes cast, 99.71% (5,64,65,930 votes) were in favour and only 0.29% (1,61,786 votes) were against. Notably, 13 shareholders holding 16,91,03,000 shares (promoter group) had their votes deemed invalid under SEBI Regulation 23(4), which bars related parties from voting on related party transactions. The final outcome therefore reflects the decision of public and institutional shareholders.
The RPT with SDHI has cleared the shareholder approval hurdle, allowing the company to proceed with the transaction. The invalidation of promoter votes is a routine SEBI safeguard and signals strong minority shareholder support, which is generally viewed positively by the market.