Genus Paper & Boards Limited — Others, 21-03-2025: Shareholders meeting

Genus Paper & Boards Limited has announced a board meeting to confirm the successful passage of three resolutions via postal ballot. The resolutions included:

1. Cancellation of unissued equity shares and the conversion into preference shares, achieving 99.99% approval from voting members.

2. Proposal to issue 7% non-cumulative redeemable preference shares on a private placement basis, also receiving 99.99% support.

3. Amendment to the Articles of Association for the appointment of a Nominee Director, similarly approved by 99.99% of votes.

This outcome reinforces shareholder confidence, positioning the company for potential growth through enhanced capital structure and governance adjustments. The overwhelmingly positive votes suggest a strong alignment between management and shareholder interests, fostering a favorable outlook for future initiatives.