Gloster Limited has informed the Exchange regarding Notice of Postal Ballot
GLOSTERLTD · price
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Gloster Limited has sent a postal ballot notice to shareholders seeking approval via e-voting on four key items. The first two items relate to the appointment of Shri Rajappa Shivalingappa as Director and as CEO & Whole-time Director for a 5-year term starting 1st May 2025 to 30th April 2030, with a salary range of Rs. 10 lakh to Rs. 15 lakh per month plus commission and perquisites. The third item seeks re-appointment of Ms. Ishani Ray as Independent Woman Director for a second term of 5 years (21st July 2025 to 20th July 2030). The fourth item seeks re-appointment of Shri Rohit Bihani as Independent Director for a second term of 5 years (21st July 2025 to 20th July 2030). E-voting is being conducted through CDSL from 14th June 2025 to 13th July 2025, with the cut-off date being 6th June 2025.
Shareholders need to vote on a new CEO appointment with notable salary commitments and two independent director re-appointments before 13th July 2025. Approval of the CEO remuneration package commits the company to minimum guaranteed pay even in years of inadequate profits, which is a key governance and cost consideration for shareholders.