voting results of EGM held on 06.05.2026 along with scrutinizer report
Awaiting price reaction for this filing.
Simplex Mills Company Ltd held an Extra Ordinary General Meeting on May 6, 2026 via video conferencing to seek shareholder approval for selling, transferring, or disposing of land pertaining to its closed Textile Plant. The resolution required a Special resolution under Section 180(1)(a) of the Companies Act, 2013. Out of 30,004 total shares, 24,940 votes were cast (83.12% turnout). The resolution passed with 21,361 votes in favor (85.65%) and 3,579 votes against (14.35%). Notably, all public institutional shareholders (3,579 votes) voted against the resolution, while promoter and non-institutional shareholders voted in favor. The scrutinizer confirmed the voting was conducted fairly and transparently through NSDL's e-voting platform.
The passing of this resolution allows the company to monetize assets from its closed textile operations. While shareholder approval indicates management can proceed with the land sale, the strong opposition from institutional investors (100% voted against) may signal concerns about valuation or the terms of disposal that shareholders should monitor.