Antarctica Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot. Further, the company has informed the Exchange regarding voting results.
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Antarctica Limited conducted a postal ballot to seek shareholder approval for two resolutions: the regularisation of Mr. Sandip Dineshbhai Goti as Managing Director and Mr. Vaghela Digvijay Arjunsinh as Independent Director. Out of 96,220 shareholders on the record date, only 114 public non-institutional shareholders cast votes, totalling 10,06,648 shares. Both resolutions were rejected by a wide margin, with 78.64% of votes polled against (7,91,655 shares) and only 21.36% in favour (2,14,993 shares). The Scrutinizer confirmed that neither resolution was passed by the members.
Both director appointments have been rejected by shareholders, creating a governance vacuum at the board level. This unusually high level of dissent (nearly 79% against) signals significant shareholder dissatisfaction and could lead to operational uncertainty, governance challenges, and negative sentiment around the stock.