Mid East Portfolio Management Ltd has initiated a postal ballot process to seek shareholder approval for altering its Objects Clause to diversify into agriculture, IT, insurance, and infrastructure. The company aims to expand its operational scope to include agri-tech solutions, digital marketing, cold storage logistics, and the manufacturing of cosmetics and pharmaceuticals. This strategic shift requires shareholder consent via remote e-voting, with the outcome determining the company's future business verticals.

Amendments to the Memorandum of Association

The board has approved the insertion of new clauses to facilitate the proposed expansion. Key activities include agriculture and agri-tech solutions, digital marketing and IT services, and cold storage and logistics infrastructure. The company also plans to enter the manufacturing of cosmetics and pharmaceuticals and provide consultancy in finance and infrastructure.

New Business Verticals

The amendments propose carrying on business in portfolio management services, investment advisory, and wealth management, including AI-based investment analytics subject to SEBI approval. The company will also engage in trading commodities, insurance broking, and media operations. The expansion covers the development of renewable energy and water management systems.

Postal Ballot and E-voting Schedule

The company has emailed the Postal Ballot Notice to shareholders as on July 3, 2026. The remote e-voting process will be conducted through the CDSL e-voting platform.

The scrutinizer will submit the report to the Chairman, and the results will be announced within 48 hours of the voting period concluding, on or before 5.00 p.m. IST on August 13, 2026.

Promoter Kishor Amichand Shah reduced his shareholding in Mid East Portfolio Management Ltd by selling 120,113 equity shares via an open market transaction on June 25, 2026. The sale represents 2.39% of the company's total share capital, lowering the promoter's holding from 2.61% to 0.22%. The disclosure was submitted to BSE Ltd. under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Prior to this transaction, Shah held 131,113 shares, which accounted for 2.61% of the voting rights. The disposal of 120,113 shares brings his total holding down to 11,000 shares. The company's paid-up equity share capital remains unchanged at 50,30,000 shares of ₹10 each, aggregating to ₹5,03,00,000.

Shareholding Details

The transaction involved only shares carrying voting rights, with no encumbrances, warrants, or convertible securities reported. The following table outlines the changes in the promoter's shareholding pattern:

Transaction Particulars

The sale was executed entirely through the open market mechanism. Kishor Amichand Shah, identified as part of the Promoter Group, confirmed that no other persons acting in concert (PAC) were involved in the transaction. The percentages provided in the disclosure have been rounded up to two decimal places.