Zodiac Clothing Company Limited has informed the Exchange about Copy of Newspaper Publication
ZODIACLOTH · price
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Zodiac Clothing Company has informed the stock exchanges about publishing copies of its Postal Ballot Notice in The Free Press Journal (English) and Navshakti (Marathi) on June 18, 2025, confirming completion of dispatch to shareholders. Three special resolutions have been put to shareholders for e-voting, which will run from June 19, 2025 to July 18, 2025. The resolutions seek approval for: (1) raising funds by issuing equity shares on a preferential allotment basis to individual promoter investors, (2) revising the remuneration of Whole-Time Director Mr. Mohamed Awais Jehangir Noorani, and (3) revising the remuneration of Whole-Time Director Mr. Adnan Salman Noorani. The cut-off date to determine eligible voters was June 13, 2025.
This is primarily a procedural disclosure confirming the postal ballot process has begun. However, the proposed preferential equity issue to promoters could lead to dilution of existing minority shareholders, while the upward revision in remuneration of two Whole-Time Directors may raise governance questions and impact future expense ratios.