Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Ashapura Minechem Limited

Meeting Details

The postal ballot was conducted through remote e-voting process by members of Ashapura Minechem Limited. The deemed date of passing the resolutions was Monday, 31st August, 2026, which was the last date of closure of the e-voting process. The results were declared at the registered office of the company at Jeevan Udyog Building, 3rd Floor, 278, D. N. Road, Fort, Mumbai - 400001.

Proposed Resolutions and Implications

The Board of Directors proposed two ordinary resolutions for shareholder approval:

Ordinary Resolution No. 1

To approve material related party transaction(s) between Ashapura Holdings UAE FZE (AHUF) and Ashapura Minex Resources SA (MINEX) for an aggregate value up to ₹3,54,000 lakhs during FY 2026-27. Both entities are step-down subsidiaries of Ashapura Minechem Limited.

Ordinary Resolution No. 2

To approve material related party transaction(s) between Ashapura Holdings UAE FZE (AHUF) and Societe Guineenne Des Mines De Fer SA (SGMF) for an aggregate value up to ₹32,500 lakhs during FY 2026-27. Both entities are step-down subsidiaries of Ashapura Minechem Limited.

Both resolutions authorized the Board or any Committee thereof to execute necessary agreements and documents, with power to alter, modify and vary terms and conditions.

Voting Process and Methods

The company provided e-voting facility to all members as on the cut-off date of Friday, 24th July, 2026. Central Depository Services (India) Limited (CDSL) was appointed as the agency to provide the e-voting platform. The voting period commenced from Sunday, 2nd August, 2026 (9:00 AM) and ended on Monday, 31st August, 2026 (5:00 PM).

Key Voting Outcomes

Resolution No. 1 Results:

  • Total votes cast: 16,955,968 shares (17.7501% of outstanding shares)
  • Overall approval: 99.9552% in favor, 0.0448% against
  • Promoter & Promoter Group: 0 votes cast (0.0000% participation)
  • Public Institutions: 16,618,333 votes cast (88.2429% participation) - 100.0000% in favor
  • Public Non-Institutions: 337,635 votes cast (1.0958% participation) - 97.7490% in favor, 2.2510% against

Resolution No. 2 Results:

  • Total votes cast: 16,955,968 shares (17.7501% of outstanding shares)
  • Overall approval: 99.9550% in favor, 0.0450% against
  • Promoter & Promoter Group: 0 votes cast (0.0000% participation)
  • Public Institutions: 16,618,333 votes cast (88.2429% participation) - 100.0000% in favor
  • Public Non-Institutions: 337,635 votes cast (1.0958% participation) - 97.7378% in favor, 2.2622% against

Scrutinizer's Role and Findings

Shri Virendra Bhatt (ACS No. 1157, COP No. 124), Practicing Company Secretary, was appointed as Scrutinizer by the Board of Directors at its meeting held on Friday, 24th July, 2026. The scrutinizer conducted the postal ballot e-voting process in a fair and transparent manner and submitted his report after due scrutiny of all e-voting confirmations received till Monday, 31st August, 2026.

Compliance with Laws and Regulations

The voting process was conducted in compliance with Section 108 and Section 110 of the Companies Act, 2013 read with Rule 20 and Rule 22 of Companies (Management and Administration) Rules, 2014, General Circular Nos. 14/2020, 17/2020, General Circular No. 3/2025, Regulation 44 of SEBI (LODR) Regulations, 2015, Secretarial Standard on General Meetings (SS-2), and other applicable laws and regulations.

Additional Information

The company completed dispatch of Postal Ballot Notice to members on Friday, 31st July, 2026 and informed members through newspaper advertisements published in Free Press Journal (English Edition) and Navshakti (Marathi Edition) on 1st August, 2026. Since voting was conducted only through e-voting, there were no defaced or mutilated ballot papers.