Elgi Rubber Company Limited has informed the Exchange about Copy of Newspaper Publication pertaining to postal ballot notice
ELGIRUBCO · price
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Elgi Rubber Company has initiated a postal ballot process seeking shareholder approval to sell, lease, transfer, liquidate, or otherwise dispose of its entire shareholding in its material wholly owned subsidiary based in the Netherlands, along with any step-down subsidiaries and their assets. The resolution is being moved as a Special Resolution under Section 180(1)(a) of the Companies Act, 2013, and also requires SEBI Listing Regulations compliance. The notice was dispatched via email on July 1, 2025, with e-voting open from July 2, 2025 (9:00 AM) to July 31, 2025 (5:00 PM). The cut-off date to determine eligible voters is June 27, 2025, and CN Paramasivam has been appointed as the Scrutinizer. Newspaper advertisements regarding this postal ballot were published on July 2, 2025, in Business Standard (English) and Malai Murasu (Tamil).
Shareholders are being asked to vote on a major corporate action—the potential exit from the company's Dutch subsidiary, which could reshape Elgi Rubber's international footprint. Approval (requiving a special resolution majority) is needed for the divestment to proceed, so the outcome of voting by July 31, 2025 will be a key catalyst for the stock.