This is reference to our previous intimation dated July 22, 2025, regarding dispatch of postal ballot notice to the shareholders of the Company for seeking their approval on the resolutions ....
Awaiting price reaction for this filing.
SRM Energy Limited announced the results of its postal ballot on August 23, 2025, with both resolutions passed by shareholders. Resolution 1 (Special) approved the sale/transfer of the company's wholly-owned subsidiary, SRM Energy Tamilnadu Private Limited, to its holding company, Spice Energy Private Limited (SEPL). Resolution 2 (Ordinary) approved related party transactions with SEPL. Both resolutions received 13,392 votes in favour (93.34%) and only 956 votes against (6.66%), with 82 public shareholders participating. Notably, SEPL as the interested/related party promoter holding 64.5 lakh shares (about 71% of equity) was excluded from voting, and total voter turnout was very low at just 0.16% of outstanding shares. The Board will discuss further action in its meeting scheduled for August 26, 2025.
This marks a significant restructuring for SRM Energy — it is effectively transferring its operating subsidiary to its holding company. While the public shareholders who voted approved it overwhelmingly, the extremely low voting turnout (0.16%) means the outcome reflects only a small fraction of public shareholders. Shareholders should watch the August 26 board meeting for next steps, valuation details of the subsidiary transfer, and any impact on the company's future business direction.