CCME Global AGM Approves Stock Split, Preferential Issue and Auditor Change
CCME Global Statutory Auditor Appointment
Shareholders considered the appointment of M/s Desai Saksena & Associates, Chartered Accountants, as the company's statutory auditor for five years. The appointment was to fill the casual vacancy arising from the resignation of M/s M N Rao & Associates LLP.
The filing states that Desai Saksena & Associates was appointed for the period from the conclusion of the 34th AGM until the conclusion of the 39th AGM.
CCME Global 1:10 Stock Split
The AGM considered and approved the sub-division of each equity share with a face value of rupee 10 into 10 fully paid-up equity shares of rupee 1 each, representing a 1:10 split. The filing states that the split is subject to BSE Limited's approval.
The company said the rationale for the split was to enhance liquidity in the capital market and make its shares more affordable for smaller investors. The company expects to complete the activity during FY 2026-27.
CCME Global Preferential Issue and Acquisition Plans
The AGM considered a preferential issue of equity shares as part of the company's proposed acquisitions.
For the acquisition of 45% of CCME UAE, the proposed consideration involved the issue of equity shares to promoter shareholders of CCME UAE. The filing identifies Mr. Padmanabhan Krishnamoorthy and Ms. V. Varalakshmi as the proposed allottees, with the transaction covering 36% and 9% stakes respectively, totalling 45%.
For the acquisition of 52% of Interlink Distribution LLC, the company proposed issuing up to 2,03,42,244 fully paid-up equity shares to Mr. Mostafa Ahmed Kabir, a non-promoter, as consideration other than cash.
CCME Global Authorised Capital and Registered Office Changes
The company increased its authorised share capital from rupee 60 crore to rupee 200 crore to accommodate proposed further equity issuances. The revised capital comprises 20 crore equity shares of rupee 10 each.
The AGM also considered the shifting of the registered office from Eluru, Andhra Pradesh, to Mumbai, Maharashtra. The company stated that its management, operations, accounts and administrative functions are now based in Mumbai.
CCME Global Director Appointment
Shareholders considered the regularisation and approval of Ms. Ami Oza as an Independent Non-Executive Director. The filing states that her appointment was placed before shareholders as a special resolution.
CCME Global AGM Highlights
- AGM Date: September 29, 2026
- Statutory Auditor: M/s Desai Saksena & Associates
- Auditor Term: From conclusion of the 34th AGM until conclusion of the 39th AGM
- Stock Split: 1:10, one rupee 10 equity share to be split into 10 rupee 1 equity shares, subject to BSE approval
- Authorised Share Capital: Increased from rupee 60 crore to rupee 200 crore
- CCME UAE Acquisition: Proposed acquisition of 45% stake through preferential allotment
- Interlink Acquisition: Proposed acquisition of 52% stake through preferential allotment to Mr. Mostafa Ahmed Kabir
- Registered Office: Proposed shift from Eluru, Andhra Pradesh, to Mumbai, Maharashtra
- Independent Director: Ms. Ami Oza
What to Watch Next
- Investors may track the company's subsequent filing of the AGM voting results and scrutiniser's report.
- Further disclosures may provide updates on the preferential allotments and the proposed acquisitions of CCME UAE and Interlink Distribution LLC.
- Investors may also monitor the implementation of the authorised capital increase and registered-office shift.
Disclaimer
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