Mitsu Chem Plast EGM for Preferential Warrants, Director

Regulatory filing of a notice for an Extraordinary General Meeting (EGM) to be held virtually, pursuant to SEBI and MCA circulars.

A Special Resolution is proposed to issue, offer, and allot up to 10,00,000 (Ten Lakh) Convertible Warrants.

Financial Details:

Each warrant has a face value of ₹10 and an issue price of ₹151 (₹10 face value + ₹141 premium).
Total aggregate consideration: ₹15,10,00,000 (Fifteen Crores Ten Lakh).
Price justification: The price of ₹151 is based on a valuation report from an independent registered valuer, Mr. Snehal Shah (IBBI Registration No.: IBBI/RV/06/2019/11772), and is higher than the calculated floor prices:
90-day VWAP: ₹146.04
10-day VWAP: ₹150.19

Terms of Issue:

Each warrant is convertible into one equity share of ₹10 each.
Conversion period: 18 months from the date of allotment.
Payment terms: 25% of the issue price (₹37.75 per warrant) is payable upon subscription. The remaining 75% (₹113.25) is payable upon conversion.
If conversion is not exercised within 18 months, the warrants lapse, and the amount paid is forfeited.
The equity shares issued on conversion will rank pari-passu with existing shares and will be listed on BSE.
The warrants and resultant shares will be subject to lock-in as per SEBI ICDR Regulations.

Allottees:

The warrants are to be allotted to the following persons:

1. Mr. Manish Mavji Dedhia (Promoter, Managing Director & CFO): 4,75,000 warrants

2. Mr. Sanjay Mavji Dedhia (Promoter, Executive Vice Chairman & Managing Director): 3,25,000 warrants

3. Rikhav Securities Limited (Non-Promoter, Listed Entity): 2,00,000 warrants

Objects of the Issue:

The entire proceeds of ₹15.10 crore are intended to be utilized for Working Capital Requirements within 6 months of receipt of funds.

Shareholding Impact (Post full conversion):

Pre-issue paid-up capital: 1,35,77,956 equity shares.
Post-issue paid-up capital: 1,45,77,956 equity shares.
Promoter holding will increase from 67.77% (92,01,699 shares) to 68.61% (1,00,01,699 shares).
The change in control: None. The issue will not result in any change in the management or control of the Company.

Regulatory and Procedural Details:

Relevant Date for pricing: August 10, 2026.
Allotment must be completed within 15 days of passing the special resolution and receiving all regulatory approvals.
The company undertakes to recompute the price if required by SEBI regulations.

An Ordinary Resolution is proposed to appoint Ms. Drishti Shailesh Thakker (DIN: 11888392) as a Non-Executive Independent Director.

Appointment Details:

She was first appointed as an Additional Director on August 14, 2026.
The proposed term is for 5 consecutive years, from August 14, 2026, to August 13, 2031.
She is not liable to retire by rotation.
She has submitted a declaration confirming she meets the independence criteria under the Companies Act, 2013, and SEBI LODR Regulations.

Director Profile:

Age: 33
Qualifications: Company Secretary, Bachelor of Laws (LL.B), Bachelor of Commerce (B.Com).
Expertise: Corporate governance, SEBI and FEMA regulations, public issue management (IPO/FPO), CSR and ESG governance.
Current shareholding: Nil.
She is not related to any other director or KMP of the company.

Date & Time: Wednesday, September 9, 2026, at 2:30 P.M. (IST)
Mode: Video Conferencing (VC) / Other Audio-Visual Means (OAVM)
Cut-off date for determining members eligible to vote: Wednesday, September 02, 2026.
Remote e-voting period: Opens on Saturday, September 05, 2026, at 9:00 AM and closes on Tuesday, September 08, 2026, at 5:00 PM.
Scrutinizer: Mr. Maharshi Ganatra, Practicing Company Secretary (FCS: 11332; COP: 14520), has been appointed to scrutinize the voting process.