Postal Ballot Outcome along with Scrutinizer''s Report
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
VTM Limited announced the results of its Postal Ballot on May 24, 2025, with all four special business resolutions approved by shareholders through remote e-voting. The resolutions passed include: (1) Alteration of Articles of Association (Special Resolution), (2) Issue of Bonus Shares (Ordinary Resolution), (3) Increase in Authorized Share Capital and consequent alteration to MOA Capital Clause (Ordinary Resolution), and (4) Alteration of Capital Clause of Articles of Association (Special Resolution). Voting turnout was strong at 72.16% (29,028,608 shares polled out of 40,227,600 outstanding), with an overwhelming 99.9997% of votes cast in favour across all resolutions. Promoters voted 100% in favour (27,491,700 shares), while public shareholders also strongly supported the resolutions with 99.99% in favour.
The most material outcome for shareholders is the approval to issue bonus shares, which will increase the number of shares held by investors (typically at no extra cost). The increase in authorized share capital provides the company flexibility for the bonus issue and future fundraising. The vote was near-unanimous, indicating strong shareholder confidence in management's proposals.