Prudential Sugar Corporation Rectifies Shareholding Details in EGM Notice
Prudential Sugar Corporation Limited (PSCL) has issued a clarification regarding an error in its Extra-Ordinary General Meeting (EGM) notice for a proposed preferential issue of equity shares. The company corrected the shareholding details of Mr. Sanyam Dugar, a non-promoter allottee, which were inadvertently omitted in the original notice. The correction shows Mr. Dugar's pre-issue holding as 4,000 shares (0.01%), with a proposed allotment of 100,000 shares, resulting in a post-issue holding of 104,000 shares (0.23%). PSCL emphasized that the omission was unintentional and expressed commitment to maintaining accurate disclosures in the future.
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Prudential Sugar Corporation Limited (PSCL) has issued a clarification regarding an error in its Extra-Ordinary General Meeting (EGM) notice for a proposed preferential issue of equity shares. The company has corrected the shareholding details of one of the proposed allottees, Mr. Sanyam Dugar, which were inadvertently omitted in the original notice.
Correction Details
The company provided the following corrected information for Mr. Sanyam Dugar's shareholding:
| Particulars | Pre-issue Holding | Proposed Allotment | Post-issue Holding |
|---|---|---|---|
| No. of Shares | 4,000 | 100,000 | 104,000 |
| Percentage | 0.01% | - | 0.23% |
Impact and Category
Mr. Dugar falls under the non-promoter category, and the proposed allotment is part of a larger preferential issue of equity shares. The correction ensures transparency in the shareholding structure post the proposed issue.
Company's Statement
In its clarification, Prudential Sugar Corporation emphasized that the omission was unintentional. The company stated, "We wish to clarify that the said omission was unintentional. This disclosure is being made under Regulation 30 of SEBI (LODR) Regulations, 2015, in the interest of transparency and to keep the stakeholders appropriately informed."
Commitment to Accuracy
PSCL has expressed regret for the oversight and assured stakeholders that necessary care will be taken in future communications to avoid such errors. This move underscores the company's commitment to maintaining accurate and transparent disclosures.
EGM Context
The Extra-Ordinary General Meeting, for which the notice was initially issued on September 24, 2024, aims to seek approval for raising funds through a fresh issue of equity shares on a preferential basis. This issuance is being conducted in compliance with SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.
The correction of this information ensures that all shareholders and potential investors have accurate data regarding the proposed changes in the company's shareholding structure, particularly concerning non-promoter allotments.
Historical Stock Returns for Prudential Sugar Corporation
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.52% | -5.08% | -6.85% | -31.24% | -34.09% | +14.98% |
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