Outcome of the postal ballot with voting results and scrutinizers report
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Velox Shipping and Logistics Ltd conducted a postal ballot via remote e-voting to seek shareholder approval for changing the stated purposes for which funds were originally raised (variation in terms of objects of the issue). The voting period ran from May 14, 2025 to June 12, 2025, with only 18 shareholders on record as of the cut-off date of May 09, 2025. The special resolution was passed unanimously, with 3 members holding 65,32,727 shares (100% of valid votes) voting in favour and no votes against. The scrutinizer, Sushil Talathi & Associates, confirmed there were no invalid votes and the resolution was passed with the requisite majority. The results were announced on June 13, 2025.
Shareholders have approved a change in how the company plans to use the money raised from a previous issue, giving the management flexibility to redirect funds. With only 18 shareholders on record and 100% approval, this is largely a formality among existing shareholders, though the actual deployment of funds will affect future business performance and shareholder returns.