Loyal Textile Mills Limited has informed the Exchange regarding 'Outcome of Postal Ballot results'.
LOYALTEX · price
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Loyal Textile Mills Limited conducted a postal ballot (e-voting) that closed on March 30, 2026, seeking shareholder approval for a Material Related Party Transaction with Gruppo P&P Loyal S.p.A (its Italian-related entity). Out of 4,816,446 outstanding shares, 3,428,369 votes (71.18%) were polled across 24 valid voters. The ordinary resolution was approved with near-unanimous support: 3,428,368 votes in favour versus just 1 vote against (99.99997% in favour). Promoter and Promoter Group, who were interested in the transaction, voted 100% in favour (33,43,828 shares). The scrutinizer, Mr. S. Hari Krishnan (Practicing Company Secretary, CP No. 13740), confirmed the resolution was passed with the requisite majority.
Shareholders have cleared the way for the company to proceed with the material related party transaction with its Italian partner. Since the promoter group was interested in the deal, this shareholder vote was a mandatory regulatory step under SEBI listing rules and Section 188 of the Companies Act, 2013. The overwhelming approval (essentially unanimous) signals strong shareholder confidence in the transaction, and the deal can now be executed without further regulatory hurdles on this front.