Postal ballot approves director appointment and loan-to-equity conversion
LLOYDSME · price
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Members approved two special resolutions through remote e-voting. Avijit Ghosh's appointment as a non-executive independent director received 97.75% support. Converting a loan into equity shares received 99.89% support. Promoters voted 346.42 million shares, out of 562.91 million eligible shares.
The director appointment adds board independence. Loan-to-equity conversion may increase share count and dilute existing holders, but the conversion amount is not stated.