Scan Steels Limited has dispatched the notice for its 33rd Annual General Meeting (AGM) scheduled for September 30, 2026. The company confirmed compliance with SEBI Listing Regulations by circulating the notice and Annual Report for FY26 electronically to registered shareholders.

The Board of Directors approved the proposal on September 1, 2026. Shareholders without registered email addresses received a physical letter containing a web link and QR code to access the documents, as per Regulation 36(1)(b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Capital Restructuring Details

The primary agenda item is the reclassification of the entire authorised optionally convertible redeemable preference shares (OCRPS) into equity shares. This move simplifies the capital structure without altering the total capital ceiling of ₹86.50 crore.

The existing authorised share capital comprises 7,15,00,000 equity shares and 1,50,00,000 non-cumulative OCRPS, each with a face value of ₹10. The proposed alteration converts the 1,50,00,000 authorised OCRPS into an equal number of authorised equity shares.

Consequently, the revised authorised share capital will comprise 8,65,00,000 equity shares of ₹10 each. This change requires shareholder approval via an Ordinary Resolution and subsequent statutory formalities, including amendments to Clause V of the Memorandum of Association.

Other Agenda Items

The AGM will also address ordinary business items, including the adoption of audited standalone and consolidated financial statements for the financial year ended March 31, 2026.

Additionally, shareholders will vote on the reappointment of Praveen Patro (DIN: 02469361), Executive Director, who retires by rotation. He has over 25 years of experience in the steel industry and has been with the company since May 30, 2018.

A special resolution will seek ratification of remuneration payable to M/s. Ray, Nayak & Associates, appointed as Cost Auditors for FY27. The approved fee is ₹60,000 plus applicable taxes and reimbursement of out-of-pocket expenses.

AGM and E-Voting Schedule

The 33rd AGM is scheduled for September 30, 2026, at 10:30 am via Video Conferencing or Other Audio-Visual Means (VC/OAVM). Remote e-voting through Central Depository Services (India) Limited (CDSL) will be available from September 27, 2026, at 9:00 am until September 29, 2026, at 5:00 pm.

The cut-off date for determining voting eligibility is September 23, 2026. The register of members will remain closed from September 24, 2026, to September 30, 2026. CS Abhijeet Jain has been appointed as the scrutinizer for the e-voting process.

Scan Steels has scheduled a meeting of its Board of Directors for September 1, 2026, at 4:00 pm. The gathering will take place at Trishna Nirmalaya Bhawan in Bhubaneswar, Odisha, to address key corporate governance matters for the financial year ending March 31, 2026.

The primary objective of the meeting is to consider and approve the draft notice convening the company's 33rd Annual General Meeting (AGM). The board will also review and approve the final Annual Report for FY26, which encompasses the Directors' Report, Corporate Governance Report, and Management Discussion and Analysis Report.

Agenda Highlights

The board's agenda covers several critical compliance and administrative tasks required under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the Companies Act, 2013. Key items include:

• Approval of the Secretarial Audit Report and Cost Audit Report for FY26.
• Fixing the date, time, venue, and mode for the 33rd AGM, including determining the book closure period and remote e-voting window.
• Appointment of an authorized agency to facilitate remote e-voting during the AGM.
• Consideration of resolutions for altering the authorized share capital and consequential changes to Clause V of the Memorandum of Association, subject to shareholder approval.

Procedural Formalities

The board will also approve arrangements for conducting the AGM and authorize the Company Secretary and other officials to complete necessary formalities. Prabir Kumar Das, Company Secretary and Compliance Officer, issued the intimation on August 19, 2026, in compliance with Regulation 29 of the SEBI Listing Regulations.