Malu Paper Mills Limited has informed the Exchange about Shareholders meeting
MALUPAPER · price
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Awaiting price reaction for this filing.
Malu Paper Mills Limited announced the results of a postal ballot where shareholders approved two key resolutions. The first was the re-appointment of Shri. Punamchand Malu (DIN: 00301030) as Managing Director & CEO via a Special Resolution. The second was the re-appointment of Shri. Banwarilal Malu (DIN: 00301297) as Joint Managing Director via an Ordinary Resolution. Both resolutions passed with overwhelming support, securing 99.98% votes in favour. The promoter group (holding about 11.9 million shares) voted 100% in favour, while public non-institutional shareholders showed 99.08–99.09% approval. Total voting participation stood at 62.69% of outstanding shares.
Continuity at the top leadership is confirmed with the promoter-family MD/CEO and Jt. MD re-appointed for another term, which is positive for governance stability but keeps the board firmly in family control. The near-unanimous approval suggests no shareholder dissent, so this is unlikely to move the stock price materially.