Smartworks Coworking Spaces has corrected the date of its 11th Annual General Meeting (AGM) to Tuesday, September 22, 2026. The company issued a corrigendum on August 28, 2026, following an earlier intimation that incorrectly cited 2025 as the year.

The meeting will be conducted through Video Conferencing or Other Audio Visual Means (OAVM) at 3:30 pm IST. Shareholders holding equity shares as on the e-voting cut-off date of September 15, 2026, are eligible to vote. Remote e-voting will commence on September 19, 2026, and end on September 21, 2026.

Meeting Agenda

The AGM notice outlines both ordinary and special business items for shareholder approval. The primary focus is the adoption of financial results for the fiscal year ended March 31, 2026.

Mr. Atul Gautam retires by rotation and seeks re-appointment based on the recommendation of the Nomination and Remuneration Committee. The special resolution proposes the appointment of Mr. Dilip Deshmukh (DIN: 11699759) as a Non-Executive Independent Director.

Regulatory Compliance

The company dispatched the Annual Report and AGM Notice to shareholders on August 29, 2026, in compliance with SEBI Listing Obligations Regulations 30 and 34. The documents are available on the company’s investor relations website and via NSDL’s e-voting platform.

The board of Smartworks Coworking Spaces on August 24, 2026, approved a scheme to reduce its share capital via the Securities Premium Account. This move aims to fully set off accumulated losses reported in the audited financial statements for the year ended March 31, 2026.

The proposal seeks to present a true and fair view of the company's financial position by eliminating these losses from the books of account. The reduction does not involve any decrease in issued, subscribed, or paid-up share capital. Consequently, the face value and number of equity shares held by each shareholder will remain unchanged, with no payment made to shareholders and no alteration to percentage shareholding.

Board Recommendations

In addition to the capital reduction scheme, the board recommended the appointment of two Non-Executive Independent Directors for a term of five consecutive years. The appointments were made on the recommendation of the Nomination and Remuneration Committee.

The company confirmed that neither director has been debarred from holding office by SEBI or any other authority. These appointments are subject to approval by members through an ordinary resolution.

Regulatory Approvals Required

The share capital reduction scheme requires further approvals before implementation. It must be sanctioned by the Hon’ble National Company Law Tribunal (NCLT) and approved by members via a Special Resolution. Any other statutory or regulatory permissions required will also be sought.

The board meeting commenced at 3:30 pm and concluded at 4:25 pm. The disclosures were made pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.