Results of Postal ballot by remote e- voting process and Scrutinizers Report and outcome.
GAYAHWS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Gayatri Highways Limited has announced the results of its postal ballot conducted through remote e-voting, with all three resolutions passed with overwhelming majority. The company received shareholder approval for: (1) modification of terms for Cumulative Redeemable Preference Shares held in associate company HKR Roadways Limited and waiver of redemption premium up to Rs.150 Crores; (2) loan transaction up to Rs.50 Crores with subsidiary Gayatri Jhansi Roadways Limited; and (3) loan transaction up to Rs.50 Crores with subsidiary Gayatri Lalitpur Roadways Limited. Voting participation was low at 25.84% of total shares, with promoters voting 100% in favor on all resolutions. Public shareholders showed minor opposition (11.48-11.77%) but resolutions passed with over 99.94% approval.
The passage of these related party transactions enables the company to restructure its investments in associate HKR Roadways and extend financial support to subsidiaries. While the resolutions were approved, the low retail participation and related party nature warrant monitoring of how these transactions impact the company's financials going forward.