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Wealth First Approves Amendment in Memorandum of Association
Team Finance Saathi
17/Dec/2024
What's Covered Under the Article:
- Wealth First shareholders approve the amendment in the MOA's main object clause via postal ballot.
- Approval complies with SEBI LODR regulations and e-voting protocols.
- Disclosure aligns with prior submissions made on November 12, 2024.
Wealth First Portfolio Managers Limited has announced that its shareholders have approved a key amendment in the Main Object Clause of the company’s Memorandum of Association (MOA). This approval was granted through the process of postal ballot via remote e-voting, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The decision was formally communicated to the National Stock Exchange of India Limited (NSE) on December 17, 2024. The approval process and disclosures were conducted transparently to align with regulatory requirements set forth by SEBI.
Resolution Approved:
- Amendment of Main Object Clause in MOA:
Shareholders passed a Special Resolution to approve the changes to the Main Object Clause of the Memorandum of Association. This amendment is part of the company’s strategic initiative to align its core operations with evolving business opportunities and regulatory requirements.
Compliance with SEBI Regulations
As mandated under the SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, Wealth First Portfolio Managers Limited ensured full compliance with the required disclosures. The company had previously filed the necessary details regarding the resolution under its communication dated 12th November 2024.
Voting Method:
The approval process was conducted via:
- Postal Ballot: Shareholders cast their votes through postal ballot as per regulatory norms.
- Remote E-Voting: An electronic voting system was implemented to ensure accessibility and transparency for all stakeholders.
Impact of the Amendment
The approved amendment in the Main Object Clause reflects the company’s forward-looking approach. By updating its MOA, Wealth First Portfolio Managers aims to enhance its operational capabilities and expand its business scope in a regulated manner. The amendment aligns with the company’s broader vision of growth and innovation within the financial services sector.
Conclusion
This approval marks a significant milestone for Wealth First Portfolio Managers Limited, underscoring its commitment to maintaining shareholder confidence and regulatory compliance. The company remains dedicated to ensuring transparent communication with stakeholders and adhering to the highest standards of governance.