2:1 Bonus Shares In 2023: Gensol Engineering Announces Major EGM Updates

A small-cap firm that provides consultancy services is Gensol Engineering Ltd. The largest independent operator of solar assets in India is Gensol. The Board of Directors announced significant changes during the company's Extraordinary General Meeting (EGM) on Saturday, March 2, 2024.

Mr. Anmol Singh Jaggi, Chairman of the meeting apprised the members on the performance of the company during the year. The chairman informed that the company had provided a facility to cast their votes through remote e-voting and e-voting at the Meeting to the Members, on all the resolutions set forth in the Notice. Also, e-voting system was made available during the EGM for the Members who had not exercised their votes earlier through remote e-voting. Issue of securities on a preferential basis to members of the promoter group and non-promoters of the company were transacted at the EGM.

"The Chairman informed that the facility for e-voting would remain open for 30 minutes post conclusion of the EGM and requested the Members who had not exercised their votes through the remote e-voting, to cast their votes through e-voting facility available at the EGM. Further, the Chairman informed that Jatin Kapadia, Practicing Company Secretaries, was appointed as the Scrutiniser to supervise the remote e-voting and e-voting at the EGM," said Gensol Engineering in a regulatory filing.

"Pursuant to Section 108 of the Companies Act, 2013 read with Rule 20 of the Companies (Management and Administration) Rules, 2014 and Regulation 44 of SEBI (Listing Obligations & Disclosure Requirements) Regulations 2015, Gensol Engineering Limited ("the Company") had provided e-voting facility to the members to enable them to cast vote electronically on the resolutions proposed in the notice of Extraordinary General Meeting (EGM). The e-voting window was open from 9:00 a.m. on Wednesday, February 28, 2024 upto 5:00 p.m. on Friday, March 1, 2024," said the company in a stock exchange filing.

"The Board of Directors had appointed Mr. Jatin Kapadia of K. Jatin & Co, Company Secretary in practice as scrutinizer for Remote E-Voting and E-Voting at EGM. The Scrutinizer has carried out the scrutiny of all the electronic votes received till 5:00 p.m. on Friday, March 01, 2024 and E-Voting at the EGM and submitted report(s) on March 2, 2024. The Report(s) of Scrutinizer is enclosed herewith," Gensol Engineering further stated in the regulatory statement.

Since its inception, the company has announced bonus shares 2 times. 1:3 bonus shares traded ex-date on 11th October 2011 and 2:1 bonus shares turned ex-date on 17th October 2023.