Intimation of Newspaper Publication for Postal Ballot Notice 2025
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Acknit Industries has published its Postal Ballot Notice in Business Standard (English) and Ekdin (Bengali) on 30 May 2025, seeking shareholder approval through remote e-voting. Key items up for vote include (1) alteration of the Object Clause of the Memorandum of Association, (2) alteration of the Liability Clause of the Memorandum of Association, and (3) adoption of new Articles of Association of the company. Separately, the Board has approved a 40% interim dividend (40 paise per Re. 1 face value) for FY 2024-25, with 1 June 2025 set as the record date. An errata/correction notice was also issued clarifying that the 40% payout is an interim dividend, not a final dividend as initially communicated. E-voting runs from 9:00 AM on 31 May 2025 to 5:00 PM on 30 June 2025, with results to be declared on or before 2 July 2025.
Shareholders must cast their e-vote during the window to approve charter amendments and the interim dividend. The 40% interim dividend is a positive cash-return signal for investors, while the MoA/AoA changes primarily reflect corporate housekeeping and expanded business scope.