Magellanic Cloud Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on September 23, 2025
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Magellanic Cloud Limited has disclosed the voting results of its 44th Annual General Meeting held on September 23, 2025 via video conferencing. All 8 resolutions were passed with overwhelming shareholder approval, with voting percentages exceeding 99.99% in favor across most items. Out of 64,086 shareholders on record date (September 12, 2025), total votes polled stood at 363,263,140 representing 62.16% of outstanding shares. Key resolutions included adoption of FY25 financial statements, declaration of a dividend of Rs. 0.15 per share (7.5% on face value of Rs. 2), re-appointment of Managing Director Joseph Sudheer Reddy Thumma, re-appointment of statutory auditors S G C O & Co LLP, appointment of secretarial auditor Deep Shukla & Associates, and appointment of three new Independent Directors (Amita Sachin Karia, Mayank Mahendra Shukla, and Priyanka Dharmesh Pandey).
Shareholders have approved a small dividend of Rs. 0.15 per share, reflecting modest capital return. The near-unanimous approval on all resolutions indicates strong shareholder confidence in management. The appointment of three new Independent Directors strengthens board composition. The unusually higher dissent (7.3%) from institutional investors on Mr. Mayank Mahendra Shukla's appointment is a minor point worth noting but does not materially affect the outcome.