Mahindra Logistics Limited has informed the Exchange about Corrigendum to the Notice of the 18th Annual General Meeting Regulations 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Detailed intimation is attached.
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Mahindra Logistics has issued a corrigendum to the notice of its 18th Annual General Meeting (AGM), which is scheduled for 21 July 2025 at 3:30 p.m. (IST) via video conferencing. The key change is that Mr. Dhananjay Mungale, an Independent Director, has declined his re-appointment due to professional commitments as his term ends on 21 July 2025, making Resolution No. 6 (his re-appointment) infructuous. All other AGM agenda items remain unchanged, including the adoption of FY25 audited financial statements, declaration of a final dividend, re-appointment of Ms. Malvika Sinha as Independent Director, appointment of Mr. Hemant Sikka as Managing Director & CEO for five years starting 5 May 2025, introduction of a new Performance Stock Unit Plan 2025 for employees, and an increase in authorised share capital. Shareholders are advised to read the original AGM notice and Integrated Annual Report for FY25 together with this corrigendum.
The withdrawal of Mr. Mungale's re-appointment slightly reduces the number of board-related resolutions but is unlikely to materially affect shareholder value or the stock price. Shareholders should review the corrigendum before the AGM to ensure they vote on the updated set of resolutions, particularly the new PSU Plan 2025 and the appointment of the new MD & CEO.