Globe International Carriers Limited — Board Meeting, 24-04-2025: Outcome of Board Meeting

The Board of Directors of Globe International Carriers Ltd. has approved key resolutions during its recent meeting. Notably, the company has canceled its proposed acquisition of Govind Kripa Infratech Private Limited and a preferential issue previously announced. Instead, it has authorized the acquisition of a 51% stake in GKIT, involving 40,80,000 shares for a total consideration of ₹29.43 crore. This would be financed partially via the issuance of up to 30,69,148 equity shares at ₹95.90 each, subject to shareholder approval. Additionally, the company is migrating to the main board of the National Stock Exchange and has plans for an Extra Ordinary General Meeting to discuss these matters.