Voting Results and Scrutinizer Report of the Extra-Ordinary General Meeting of the Company held on July 31, 2025
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Uniroyal Marine Exports held an Extra-Ordinary General Meeting on July 31, 2025, conducted via video conferencing from 2:30 PM to 2:58 PM. The single special resolution sought shareholder approval to sell and transfer approximately 180 cents of land and building at Chamancheri, Vengalam P.O., Calicut through an open bid/public tender process, and to authorize a lease-back arrangement. Out of 16,764 shareholders on the record date (July 24, 2025), 38 attended via VC. A total of 18,26,734 votes were polled (28.19% of outstanding shares), with 16,15,630 votes (88.44%) in favor and 2,11,104 votes (11.56%) against. Promoter group voted 100% in favor, while public non-institutions voted 83.26% in favor and 16.74% against. The scrutinizer, Mr. Panakkat Sandeep Kumar, confirmed the resolution was passed with the requisite majority.
The sale-and-leaseback of the company's property was approved with strong promoter support but notable dissent (about 12%) from public non-institutional shareholders. Shareholders should watch for the actual sale transaction proceeds and how the company plans to utilize the funds, as the lease-back means ongoing rental obligations.