United Polyfab Gujarat Limited has informed the Exchange about The Result of E-voting and the scrutinizer's report under regulation Regulation 44(3) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
UNITEDPOLY · price
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United Polyfab Gujarat Limited held an Extra-Ordinary General Meeting (EGM) on July 19, 2025, via video conferencing, where shareholders voted on two key resolutions, both of which passed unanimously with 100% votes in favour. Resolution 1 (Ordinary Resolution) was to increase the Authorised Share Capital of the company and make a consequent alteration in Clause V of the Memorandum of Association. Resolution 2 (Special Resolution) was to approve the issuance of Warrants Convertible into Equity Shares on a Preferential Basis to Promoter Category Shareholders. A total of 29 members cast 3,79,87,216 (approximately 3.80 crore) valid votes in favour of each resolution, with zero votes against. The EGM notice was sent to 5,087 shareholders, and e-voting was conducted through NSDL's platform from July 16-18, 2025, with the cut-off date being July 12, 2025.
Shareholders have cleared the way for a potential equity dilution through the issuance of convertible warrants to promoters, with the increase in authorised share capital being a preparatory step. While the 100% approval suggests strong shareholder consensus, retail investors should monitor the warrant conversion terms as it could lead to future share dilution and changes in the promoter shareholding pattern.