Board Meeting Outcome for The Meeting Of Board Of Directors Of Unison Metals Limited
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The Board of Directors of Unison Metals Limited met on July 11, 2025, and approved key resolutions related to the company's ongoing Rights Issue. The Board voluntarily appointed a SEBI-registered Credit Rating Agency to act as the Monitoring Agency for overseeing the use of funds raised through the Rights Issue, in line with SEBI (ICDR) Regulations, 2018. The Board also resolved that no part of the Rights Issue proceeds will be utilized until the Monitoring Agency is formally appointed and operational. The Monitoring Agency will submit quarterly and event-based monitoring reports to BSE and other regulatory authorities, which will also be reviewed by the Audit Committee and the Board.
This is a governance and compliance measure that adds an extra layer of oversight for the Rights Issue proceeds, which may reassure investors about fund usage but does not directly affect shareholder value or stock price. The delay in deploying Rights Issue funds until the Monitoring Agency is in place could temporarily slow down the company's planned capital expenditure.