Postal Ballot result with scrutinizers report
FERMENTA · price
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Awaiting price reaction for this filing.
Fermenta Biotech Limited conducted a postal ballot (e-voting and physical) from April 3 to May 2, 2025, seeking shareholder approval for Material Related Party Transactions. A total of 13,266 members were eligible to vote, of which 117 members cast votes representing 25,54,643 equity shares (8.68% of outstanding shares). The resolution was passed with overwhelming support — 99.94% of votes polled were in favour (25,53,134 shares) and only 0.06% against (1,509 shares). The promoter group, being interested in the transaction, abstained from voting on their 1,88,61,009 shares, while public institutional and non-institutional shareholders voted nearly unanimously in favour. The scrutinizer, Mr. V.N. Deodhar, certified the results as valid and passed with requisite majority.
The Material Related Party Transaction is now formally approved by shareholders, allowing the company to proceed with the deal. The near-unanimous approval (99.94%) reflects strong investor confidence in the transaction, and promoter abstention is standard governance practice for related party items — this is unlikely to have any negative impact on the stock.