Copy of Corrigendum along with Updated Notice of 01/2025-26 EGM.
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Adinath Exim Resources Limited (proposed to be renamed Trustedge Capital Ltd) has issued a corrigendum to its EGM notice dated April 10, 2025, ahead of the EGM scheduled for May 9, 2025. The corrigendum corrects the name of the first proposed allottee in the preferential issue from 'Manoj Shantilal Savla (on behalf of Shantilal Savla Family Trust)' to 'Shantilal Savla Family Trust'. The EGM seeks shareholder approval for nine major items: (1) name change to Trustedge Capital Ltd, (2) increase in authorised share capital from ₹5.5 crore to ₹7 crore, (3) preferential issue of 8,85,000 equity shares at ₹57 per share (₹47 premium) to promoter group entities for ~₹5.04 crore, (4) appointment of Ms. Shaily Jatin Dedhia as Independent Director, (5) appointment of Mr. Manoj Shantilal Savla as Chairman & MD for 3 years, (6) introduction of TEDGE ESOS 2025 covering up to 10,00,000 stock options, (7) grant of ESOPs exceeding 1% of issued capital to CEO Mr. Deepak Kabra, (8) borrowing limit raised to ₹250 crore, and (9) creation of charges on company assets up to ₹250 crore.
This EGM packs several shareholder-sensitive events into one meeting — a name change, capital expansion, and a promoter-group preferential issue at a significant premium, all of which could lead to equity dilution. The ₹250 crore borrowing limit expansion signals potential for larger fundraising or acquisitions ahead.