Duke Offshore Limited’s Board of Directors has approved a significant alteration to the company’s Object Clause. This strategic move aims to diversify and expand its business operations into new, high-growth sectors. Key areas include mining, natural resources, power, energy, marine resources, and importantly, artificial intelligence, data centers, and advanced technology. The proposal will be presented to shareholders for approval at the upcoming Annual General Meeting.
Strategic Business Expansion Approved
The Board of Directors of Duke Offshore Limited, in a meeting held on August 31, 2026, has approved a proposal to alter the company’s Memorandum of Association (MOA). This strategic decision is aimed at broadening and enhancing the company’s operational framework, enabling it to explore and undertake business opportunities in a wider array of sectors.
New Business Avenues
The proposed alterations will see the inclusion of new business activities, particularly focusing on emerging and high-growth areas. These include:
- Mining & Natural Resources
- Power, Energy & Marine Resources
- Artificial Intelligence, Data Centres & Advanced Technology
The company believes this diversification will provide a more comprehensive object framework and unlock potential for future growth. Activities incidental or ancillary to these core areas will also be undertaken.
Shareholder Approval Required
For the alteration of the Object Clause to be finalized, it requires the approval of the company’s Members through a Special Resolution at the upcoming Annual General Meeting (AGM). The Board has also approved the convening of the 40th AGM on September 30, 2026, which will be conducted via Video Conferencing or Other Audio Visual Means (VC OR OAVM).
Other Key Board Decisions
In addition to the MOA alteration, the Board also approved several other significant proposals, including:
- Board’s Report for FY 2025-26
- Shifting of Registered Office to a new address in Mumbai.
- Recommendation for Regularisation of Directors, with detailed disclosures provided in Annexure-II.
- Increase in Authorised Share Capital from ₹30 Crore to ₹100 Crore, subject to member approval.
- Approval for Sale/Disposal of Assets, with detailed disclosures provided in Annexure-III.
- Closure of the Register of Members and Share Transfer Books from September 24, 2026, to September 30, 2026.
- Setting the Cut-off Date for E-voting as September 23, 2026.
- Appointment of Scrutinizer and E-voting/AGM Service Provider (NSDL).
The Board Meeting commenced at 3:30 P.M. and concluded at 6:30 P.M. The detailed disclosures regarding the proposed alteration of the Object Clause are enclosed as Annexure-I.
Source: BSE
