Enclosed herewith attached Results of Postal Ballot Notice dated 28th March, 2025.
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Wardwizard Innovations & Mobility has announced the results of its Postal Ballot conducted via e-voting between 31st March and 29th April, 2025. Two resolutions were put to vote. Resolution 1 (Ordinary) approved material related party transactions with Mr. Yatin Sanjay Gupte, Chairman & Managing Director and Promoter, and passed with 97.08% votes in favour (22,36,520 votes for vs 67,149 against). Resolution 2 (Special) approved raising loans (secured or unsecured) with an option to convert them into equity shares, passing with 98.02% support (22,58,165 for vs 45,654 against). Voting turnout was low at just 0.88% of outstanding shares (23 lakh votes out of 26.07 crore shares). The promoter group, holding about 50.46% of shares, did not vote as they were interested in both resolutions.
Shareholders have approved related party transactions involving the CMD/Promoter and authorized the company to raise loans that could be converted into equity. While both resolutions passed comfortably, the convertible loan provision may lead to future share dilution. Low voting participation means outcomes largely reflect institutional and non-promoter public shareholder sentiment.