INTIMATION ABOUT THE CESSATION OF INDEPENDENT DIRECTOR AFTER COMPLETION OF TWO TENURE OF 05 YEARS
Awaiting price reaction for this filing.
Cityon Systems (India) Ltd has informed the stock exchange that Ms. Kavita Awasthi (DIN: 03106803) has ceased to be an Independent Director of the company with effect from the close of business hours on 3rd April 2025. This cessation is due to the completion of her second and final consecutive term of five years as an Independent Director, in line with the maximum tenure permitted under SEBI Listing Regulations. The Board has recorded its appreciation for her contribution during her tenure. The company has filed the required disclosure under Regulation 30 of the SEBI Listing Regulations. This is a routine, regulation-driven event and not a sudden or unexpected departure.
This is a routine, regulatory-driven change with no material impact on the company's operations or financials. The cessation was pre-scheduled and reflects compliance with the mandatory maximum tenure limit for independent directors; shareholders should monitor whether a replacement independent director is appointed in due course to maintain board composition requirements.