Voting Result of Postal Ballot along with Scrutinizer Report
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Awaiting price reaction for this filing.
Kovalam Investment & Trading Company Ltd conducted a postal ballot (e-voting only) with the last date of voting on April 14, 2025. Two special resolutions were put to vote: (1) re-appointment of Sh. Komal Jain (DIN: 00399948) as an Independent Director, and (2) approval for his continuation as Non-Executive Independent Director upon attaining the age of 75 years. Out of 516 shareholders on record date (March 7, 2025), only 22 members participated, casting 15,95,725 votes representing 71.75% of total outstanding shares. Both resolutions passed with 100% votes in favor and zero votes against. Promoters (holding 16,66,735 shares) voted fully in favor, and all public votes polled were also in favor. The scrutinizer P.S. Dua & Associates confirmed the results on April 15, 2025.
This is a routine corporate governance action with no material impact on the stock price. Unanimous approval of the director's re-appointment and continuation ensures board continuity. Kovalam is a small, closely-held investment company (BSE scrip 505585) with limited public float, and voting turnout from public shareholders was very low (only 1.53% of public shareholding voted).