Emami Paper Mills Limited, a prominent player in the paper industry, has successfully passed a special resolution during a postal ballot process conducted through remote e-voting. The resolution pertained to the variation in terms of preference shareholders, specifically transitioning Series I Optionally Convertible Non-Cumulative Redeemable Preference Shares (OCRPS) to Non-Convertible Non-Cumulative Redeemable Preference Shares (NCRPS).

The decision follows the formal notice issued on 18th February 2025 and was carried out in accordance with the Companies Act, 2013 and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The e-voting process, which began on 19th February 2025 and concluded on 20th March 2025, saw participation from 129 members representing over 4.9 crore equity shares. The results revealed that 99.9975% of the votes were in favor of the resolution, confirming strong shareholder approval.

The scrutiny was conducted by MKB & Associates, a company secretary firm, and their report confirmed the validity of the votes, including 100% approval from promoter groups and a significant 25% participation from the public non-institutional shareholders. Notably, the transition from OCRPS to NCRPS was endorsed by all Series I OCRPS holders, marking a critical shift in the company's capital structure.

The Scrutinizer's Report dated 21st March 2025, as well as the postal ballot results, are now available on the company's official website and through the Central Depository Services (India) Limited (CDSL) e-voting portal. The company's management expressed gratitude towards its stakeholders for their active participation and support in the resolution process.

This shift in terms for preference shareholders aligns with the company’s long-term strategic goals and is expected to impact future financial structuring. The company’s management assured investors of continued transparency and commitment to improving corporate governance practices.

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