The Scrutinisers Report and Voting Results of the First Extra Ordinary General Meeting of Equity Shareholders of the Company held on May 15, 2025.
Awaiting price reaction for this filing.
Konark Synthetic Ltd held its first Extra Ordinary General Meeting (EOGM) on May 15, 2025, where shareholders approved a special resolution to sell the company's property under Section 180(1)(a) of the Companies Act, 2013 and Regulation 37A(1) of SEBI (LODR) Regulations, 2015. Out of 58,08,000 total outstanding shares, 45,04,517 votes were polled (77.56% turnout), and the resolution was passed unanimously with 100% votes in favour and zero votes against. Promoters (holding 41,68,016 shares) and public shareholders (3,36,501 votes polled) both voted entirely in favour. The meeting was attended by 3 promoter representatives and 69 public shareholders in person.
The property sale has been formally approved by shareholders with full support, clearing the way for the company to monetise a real estate asset. Retail investors should watch for further disclosures on the sale value, buyer, and how the proceeds will be used, as this could materially affect the company's balance sheet.