Uttam sugar mills Limited has announced the redemption of preference shares through its Preference Share Redemption Committee. The decision was made at a committee meeting held on March 31, 2026, and disclosed to stock exchanges under Regulation 30 of SEBI (LODR) Regulations, 2015.

Preference Share Redemption Details

The company redeemed two distinct categories of non-cumulative redeemable preference shares during the committee meeting:

The redemption of the 10.00% preference shares included an additional premium of Rs. 100 per share, executed as per the original terms of issue.

Regulatory Compliance

The redemption process was carried out in full compliance with regulatory requirements. Company Secretary and Compliance Officer Rajesh Garg signed the disclosure document, ensuring proper documentation and transparency. The company formally notified both the National Stock Exchange of India Limited and BSE Limited about the redemption.

Corporate Structure Impact

The preference share redemption represents a strategic financial decision by Uttam Sugar Mills Limited's management. The company maintained its commitment to honoring the terms and conditions established at the time of original share issuance. The redemption process was executed through the designated Preference Share Redemption Committee, demonstrating proper corporate governance practices.

Uttam Sugar Mills Limited has successfully concluded its postal ballot process for extending the redemption period of its preference shares, receiving unanimous approval from voting shareholders. The company announced the results on March 19, 2026, following the completion of the voting process on March 18, 2026.

Postal Ballot Process Overview

The postal ballot was initiated following a Board Resolution dated February 12, 2026, seeking consent from holders of both 6.50% Non-Cumulative Redeemable Preference Shares and 10.00% Non-Cumulative Redeemable Preference Shares for extending their redemption periods. The company appointed N.K. Rastogi & Associates as the scrutinizer to conduct the process in a fair and transparent manner.

The voting process commenced on February 17, 2026, at 9:00 AM and concluded on March 18, 2026, at 5:00 PM. Preference shareholders were provided with both e-voting facilities through NSDL and physical postal ballot options. The company dispatched postal ballot notices along with ballot forms and self-addressed postage prepaid reply envelopes on February 16, 2026.

Voting Results for 6.50% Preference Shares

The special resolution for extending the redemption period of 6.50% Non-Cumulative Redeemable Preference Shares received complete support from voting shareholders:

Voting Results for 10.00% Preference Shares

Similarly, the special resolution for extending the redemption period of 10.00% Non-Cumulative Redeemable Preference Shares also achieved unanimous approval:

Regulatory Compliance and Documentation

The postal ballot process was conducted in full compliance with Section 110 of the Companies Act, 2013, and Rule 22 of the Companies (Management and Administration) Rules, 2014. The company also adhered to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key compliance measures included:

• Publication of public notices in "Financial Express" (English) and "Veer Arjun" (Hindi) newspapers on February 17, 2026
• Upload of postal ballot notices on company website ( www.uttamsugar.in ) and NSDL website
• Generation of Electronic Voting Event Numbers (138539 for 6.50% shares and 138540 for 10.00% shares)
• Validation of votes against the register of preference holders as on the cut-off date of February 10, 2026

Scrutinizer's Confirmation

Naveen Kumar Rastogi of N.K. Rastogi & Associates confirmed that all votes were cast exclusively through the e-voting mode, with no physical ballot papers received. The scrutinizer validated the voting process in the presence of two independent witnesses, Ms. Parineeta Bhatnagar and Ms. Divya Ahuja, who are not employed by the company.

Both special resolutions were deemed passed on March 18, 2026, the last date of e-voting, with the requisite majority as required under the Companies Act, 2013 and SEBI Listing Regulations. The unanimous approval demonstrates strong shareholder confidence in the company's strategic decisions regarding its preference share structure.

Source: None/Company/INE786F01031/0a0a0001-acf1-403f-ad45-4333ef070fdb.pdf