Addendum to the Notice of 27th Annual General Meeting of the Company to be held on September 29, 2025
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Ceinsys Tech has withdrawn two agenda items from its 27th Annual General Meeting scheduled for September 29, 2025. Item No. 8 was the proposed appointment of Mr. Surej Kunhithayyil Poyil as Whole Time Director and CEO Designate for a 3-year term with a total pay of USD 5,60,000 per annum (USD 3,75,000 base salary plus USD 1,85,000 variable pay). Item No. 9 was the related proposal to grant him 2,15,000 employee stock options from a total ESOP pool of 8,70,000 options under the 'CS Tech ESOS 2025' scheme. The company has cited the need for 'further clarity on certain regulatory aspects' related to his appointment terms as the reason for the withdrawal. All other items in the AGM notice remain unchanged, with items 10, 11, and 12 being renumbered to 8, 9, and 10 respectively. The addendum will be published in newspapers on September 26, 2025.
This is a procedural delay rather than a rejection — Mr. Poyil's appointment and ESOP grant are likely to be re-tabled at a future meeting once regulatory clarity is obtained. For shareholders, it means the planned leadership transition and executive compensation vote is postponed, but existing business items at the AGM proceed as planned.