Zodiac Clothing Company Limited — Others, 18-06-2025: Shareholders meeting

Zodiac Clothing Company Ltd. has announced a board meeting to seek shareholder approval via postal ballot for three special resolutions. First, it plans to raise Rs. 15 Cr through preferential allotment of 13.44 lakh equity shares at Rs. 111.60/share to promoters Mohamed Anees Noorani and Salman Yusuf Noorani, aimed at funding capital expenditure (Rs. 11.25 Cr) and general corporate purposes (Rs. 3.75 Cr). This will slightly increase promoter holding to 72.81%. Second and third, the company proposes to revise the remuneration of Whole-Time Directors Mohamed Awais Jehangir Noorani (Exports) and Adnan Salman Noorani (Digital) effective April 2025 till March 2027, reflecting their experience and contributions, with annual caps of Rs. 1.2 Cr and Rs. 55 lakh respectively, including salary, performance pay, and ESOP eligibility. These moves support growth and digital focus, important for shareholder value.