Shareholders of Mid East Portfolio Management have approved a special resolution to alter the object clause of the company’s Memorandum of Association. The voting was conducted through a postal ballot process that concluded on August 11, 2026.

The resolution required a special majority and was assented to by a significant margin. A total of 1,099,404 votes were polled out of 5,030,000 shares held as on the record date of July 3, 2026. This represents a participation rate of approximately 21.86%.

Voting Breakdown

The voting results were scrutinized by Ankur Gandhi & Associates. The data reveals distinct participation patterns between promoter and public shareholders.

Promoter group shareholders, holding 141,396 shares, voted unanimously in favour of the resolution with 100% participation. Among public non-institutional shareholders, who hold 4,888,604 shares, 958,008 votes were cast. Of these, 957,971 votes supported the resolution while 37 votes opposed it.

What the Numbers Show

The voting data highlights a concentration of active engagement among promoter shareholders versus retail investors. While promoters achieved 100% participation on their entire holding, public non-institutional shareholders participated at a rate of roughly 19.6%. Despite the lower overall participation rate among the public block, the resolution secured near-unanimous support from those who did vote, with less than 0.01% opposition.

Procedural Details

The postal ballot notice was issued on July 9, 2026. The e-voting facility was provided by Central Depository Services (India) Limited (CDSL). The voting period ran from 9:00 am on July 13, 2026, to 5:00 pm on August 11, 2026.

Ankurkumar D. Gandhi, proprietor of Ankur Gandhi & Associates, served as the independent scrutinizer. The scrutinizer’s report confirmed that the resolution was passed with the requisite majority under Section 110 of the Companies Act, 2013, read with Secretarial Standard on General Meetings (SS-2). The results were declared on August 12, 2026.

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.