Siyaram Silk Mills schedules meetings for bonus preference share scheme

Siyaram Silk Mills Limited announced that meetings for its equity shareholders and unsecured creditors will be held on Monday, December 29, 2025, at 11:00 A.M. (IST) and 12:30 P.M. (IST) respectively, via Video Conferencing/Other Audio Visual Means. These meetings, convened as per directions from the National Company Law Tribunal (NCLT) on November 4, 2025, aim to consider and approve a Scheme of Arrangement proposing the issuance of preference shares by way of bonus to the company's equity shareholders, utilizing general reserves.

The e-voting period for both shareholder and creditor resolutions will commence on Wednesday, December 24, 2025, at 9:00 A.M. (IST) and conclude on Sunday, December 28, 2025, at 5:00 P.M. (IST). The Scheme provides for issuing 4 (Four) Series I preference shares and 3 (Three) Series II preference shares, each with a face value of INR 10, for every 1 (One) equity share of INR 10 held. These preference shares will bear a 9% cumulative non-convertible redeemable dividend, with Series I redeemable after 3 years and Series II after 5 years.

The amount due to unsecured creditors as of October 31, 2025, is INR 2,48,72,72,028.63. The Board, in its meeting on October 26, 2024, approved the Scheme, noting no adverse effect on employees and a beneficial outcome for shareholders by leveraging surplus reserves.