Outcome of Board Meeting held on Monday, 18th August, 2025 is enclosed.
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Axel Polymers held a brief board meeting on August 18, 2025 (2:00 PM to 2:45 PM) where it appointed Mr. Ashokkumar Natwarlal Shah as Additional Director and Independent Director for a five-year term. Mr. Shah, aged about 71, brings 43 years of corporate experience in finance, accounts, taxation, and legal matters, and currently serves as an Independent Director at Steelco Gujarat and Finance Controller at Hi-Mak Pvt Ltd. He has been inducted into the Audit Committee, Nomination and Remuneration Committee, and Stakeholders Relationship Committee. Separately, Mr. Haresh Padamshi Kothari ceased as Independent Director upon completing his second and final five-year term, stepping down from all board committees effective end of day August 18, 2025.
This is a routine board reconstitution with no change in promoter control, management, or business direction. Shareholders should see continuity in governance as one outgoing independent director is replaced by another experienced professional with strong finance expertise, which may strengthen audit and compliance oversight.