Pursuant to Provisions of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 , we enclose herewith a copy of Postal Ballot Notice dated 23.05.2025 dispatched to the ....
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Global Offshore Services Limited has issued a Postal Ballot Notice dated 23 May 2025 seeking shareholder approval for the re-appointment of Mr. Mukund Madhav Honkan (DIN: 08392886) as Whole-Time Director for a period of 3 years effective 1 April 2025. His proposed annual CTC is Rs. 58,61,544 (approx Rs. 4.88 lakh per month), with minimum remuneration guaranteed in case of inadequate profits. The Nomination and Remuneration Committee recommended his re-appointment at its meeting on 27 March 2025. E-voting will be conducted via CDSL from 29 May 2025 (10:00 a.m.) to 27 June 2025 (5:00 p.m.), with the cut-off date being 23 May 2025. The company also disclosed financial performance for FY25: total revenue of Rs. 32.74 crore and a loss of Rs. 7.94 crore, attributed to high depreciation and a vessel being idle for two months during drydocking.
This is a routine governance item seeking shareholder approval through an ordinary resolution, which requires only a simple majority and is expected to pass without major controversy. Shareholders should note the company is loss-making at the net level but expects to return to profitability in the current year on the back of higher charter rates and contract renewals.