Magson Retail & Distribution has issued a corrigendum to the notice of its 01/2026-27 Extra-Ordinary General Meeting scheduled for July 15, 2026. The company informed shareholders regarding corrections to the pre-issue and post-issue shareholding patterns disclosed in the explanatory statement for the proposed preferential allotment of Compulsorily Convertible Debentures (CCDs) and equity shares. Additionally, the voluntary nature and purpose of obtaining the valuation report, which were omitted in the original notice, have been specifically disclosed in the updated documents.

The Extra-Ordinary General Meeting will be held through Video Conferencing or Other Audio-Visual Means to seek shareholder approval for four special businesses. The primary agenda items include the preferential issue of 3,00,000 fully paid-up 0% unsecured CCDs aggregating INR 3,00,00,000 and the preferential allotment of 61,200 equity shares aggregating INR 1,00,04,976. The meeting will also consider the re-appointment of Mr. Rajesh Emmanuel Francis as Managing Director and Mr. Manish Shivnarayan Pancholi as Whole-Time Director for a term of three years commencing from April 01, 2026.

Preferential Allotment Details

The board has proposed issuing securities to non-promoter investors to raise funds for working capital requirements and general corporate purposes. The CCDs carry an interest rate of 0% per annum and are convertible into equity shares within 18 months from the date of allotment. The equity shares are proposed to be issued at a price of INR 163.48 per share, including a premium of INR 153.48 per share.

Re-appointment of Key Managerial Personnel

The company seeks approval for the re-appointment of Mr. Rajesh Emmanuel Francis as Managing Director and Mr. Manish Shivnarayan Pancholi as Whole-Time Director. Both appointments are for a term of three consecutive years from April 01, 2026, to March 31, 2029. The remuneration for Mr. Rajesh Emmanuel Francis is up to 5% of the net profit or a minimum of INR 55,00,000 per annum in case of inadequacy of profits. Mr. Manish Shivnarayan Pancholi will receive remuneration up to 5% of the net profit or a minimum of INR 25,00,000 per annum.

The updated EGM notice and explanatory statement are available on the company’s website and the National Stock Exchange of India Limited website. The corrigendum was issued in compliance with the applicable circulars issued by the Ministry of Corporate Affairs and the Securities and Exchange Board of India.

Magson Retail & Distribution has approved pre-clearance applications from three promoter group members to sell a combined total of up to 2,10,000 equity shares. The sales, subject to SEBI (Prohibition of Insider Trading) Regulations, 2015, were approved on June 27, 2026, following applications dated June 26, 2026. The transactions will be conducted through the National Stock Exchange at the prevailing market price, which was INR 175.00 per equity share as of June 25, 2026.

Details of Proposed Sales

The applicants include Mr. Manish Shivnarayan Pancholi, a Promoter, and Mr. Jitendra Choudhry and Mrs. Janushi Nirav Choudhry, both members of the Promoter Group. The company's Compliance Officer, Himani Thakkar, processed the requests in accordance with its Code of Conduct for Prevention of Insider Trading. All applicants declared they were not in possession of any unpublished price-sensitive information at the time of signing the undertakings.

Mr. Manish Shivnarayan Pancholi proposed to sell up to 1,00,000 shares from his holding of 7,72,100 equity shares. Following the sale, his balance holding is expected to be 6,72,100 shares. Mr. Jitendra Choudhry and Mrs. Janushi Nirav Choudhry each proposed to sell their entire holdings of 55,000 equity shares. If approved, their respective holdings in the company will drop to nil.

Transaction Parameters

The trades must be executed within seven days of the approval date. The applicants have undertaken to submit a report of the transaction or a 'NIL' report if the trade is not undertaken within two trading days of execution. The sales are restricted to the open trading window, and the applicants confirmed they have not entered into any contra-trades in the six months preceding the application.

The depository for all shares is the National Securities Depository Limited. The applicants further undertook to refrain from dealing in the securities if they access price-sensitive information before the execution of the transaction and to disgorge any profits from inadvertent contra-trades to the Investor Protection and Education Fund administered by SEBI.