Kilitch Drugs: Corrigendum to EGM Notice on Share Allotment
Kilitch Drugs India Ltd has issued a corrigendum to its Extra Ordinary General Meeting (EGM) notice. The corrigendum corrects a typographical error in the explanatory statement for Item No. 2, specifically regarding the number of equity shares to be allotted. The original notice incorrectly stated 1,66,472 equity shares, whereas the correct number is 1,66,471 equity shares. This allotment pertains to the conversion of outstanding debt into equity in its material subsidiary, Kilitch Estro Biotech PLC (KEB). The EGM, scheduled for November 16, 2026, will be held via Video Conferencing. The correction impacts the calculation of Kilitch Drugs' increased shareholding in KEB post-conversion, which will now rise to 89.17% from 67%. This is part of a larger transaction involving the sale of Kilitch Drugs' entire shareholding in KEB to HarmeeCare Pharmaceuticals for USD 12,855,000.
Key Highlights
- Corrigendum issued for EGM notice due to a typographical error.
- Number of shares to be allotted corrected from 1,66,472 to 1,66,471.
- Allotment relates to debt conversion in subsidiary Kilitch Estro Biotech PLC.
- Shareholding in subsidiary to increase to 89.17% post-conversion.
- EGM to be held on November 16, 2026, via Video Conferencing.
Price Impact
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