Aarey Drugs & Pharmaceuticals Limited — Important, 04-12-2024: General Updates

The Board of Directors of Aarey Drugs and Pharmaceuticals Limited has approved the issuance of up to 50,00,000 convertible warrants on a preferential basis, each convertible into one fully paid-up equity share of Rs. 10/- face value. This preferential issue will require the approval of the company’s shareholders at the upcoming Extraordinary General Meeting (EGM) scheduled for January 2, 2025. Additionally, Mr. Lalit Radha Krishna Tulsiani and Mr. Anil Mandal have been reappointed as Independent Directors for their respective second terms, subject to shareholder approval. The board appointed a scrutinizer for conducting the e-voting process for the EGM. Investors should watch closely for the outcomes of the upcoming shareholder approvals, as these initiatives could significantly influence the company’s capital structure and governance.