Intimation regarding the Postal ballot Notice. Resolutions regarding the amendment of Articles of Association, Proposal for Issue of Bonus Shares, Increase in authorized Share capital, ....
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VTM Limited has issued a Postal Ballot Notice dated April 16, 2025 seeking shareholder approval through remote e-voting for four resolutions. Key resolutions include: (1) Alteration of Articles of Association to align with Companies Act 2013 and allow capitalisation of profits; (2) Issue of bonus shares in the ratio of 3:2 (i.e., 3 new equity shares for every 2 existing shares of ₹1 each), by capitalising up to ₹6.04 Crore from general reserve/retained earnings; (3) Increase in Authorised Share Capital from ₹10 Crore (10 Crore shares) to ₹11 Crore (11 Crore shares) of ₹1 each; and (4) Consequential alteration to the Capital Clause of the Articles of Association. The cut-off date is April 18, 2025, e-voting runs from April 23, 2025 to May 23, 2025, and results will be announced on or before May 25, 2025.
If approved, existing shareholders will receive 3 bonus shares for every 2 shares held, a 150% increase in share count, which typically lowers the per-share price proportionally while keeping overall investment value unchanged. The authorised capital increase gives the company headroom for future fundraising. No cash outflow for the company as bonus is funded from reserves.