Zodiac Clothing Company Limited has submitted the Exchange a copy of Scrutinizers report of Postal Ballot along with voting results
ZODIACLOTH · price
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Zodiac Clothing Company has disclosed the results of a postal ballot (e-voting) that concluded on July 18, 2025, in which shareholders approved all three special resolutions. Resolution 1 relates to raising funds through the issue of equity shares on a preferential allotment basis to individual promoter investors for cash, and was passed with 99.99% of votes in favour. Resolutions 2 and 3 involve a revision in the remuneration payable to two whole-time directors, Mr. Mohamed Awais Jehangir Noorani and Mr. Adnan Salman Noorani, both of which were passed with 99.98% of votes in favour. Out of 10,987 shareholders on the record date, 97 shareholders representing 1,91,57,635 shares (73.70% of total equity) participated in the voting. Promoters, who are interested parties in all three resolutions, voted 100% in favour, while public non-institutional shareholders also voted overwhelmingly in favour (over 99.6% across all resolutions).
For public shareholders, the preferential allotment to promoters will result in equity dilution but also signals promoter commitment by infusing fresh capital into the company. The upward revision in director remuneration may lead to a modest increase in managerial compensation costs. The very high approval margins suggest minimal shareholder dissent, so near-term price reaction is likely to be muted.