Magson Retail And Distribution Limited — Important, 07-03-2025: Updates

Shareholders of Magson Retail and Distribution Limited approved several significant measures during the Extra-Ordinary General Meeting. These include an increase in authorized share capital and changes to the Capital Clause of the Memorandum of Association. Furthermore, the adoption of a new set of Articles of Association aligning with the Companies Act, 2013 was sanctioned. Mr. Robert Gomes has been appointed as a Non-Executive and Non-Independent Director.

Additionally, approval was granted to create and allot up to 1,06,00,000 (1.06 crore) Convertible Equity Warrants at a face value of ₹10 each, priced at ₹93.25, with an aggregate value of ₹98.84 crore. These warrants will be offered on a private and preferential basis to allottees from both the Promoter and Non-Promoter groups, who have the option to convert these warrants into equity shares at the same price. This strategy could enhance financial flexibility and support future growth initiatives. Investors should monitor how these developments will influence the company's growth trajectory and capital structure.