Disclosure of alteration to the Articles of Association of the Company approved by shareholders at 23rd Annual General Meeting held on 30th September, 2025
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Markolines Pavement Technologies held its 23rd Annual General Meeting on September 30, 2025, via video conferencing. Shareholders approved three key items: (1) re-appointment of M/s. Jay Gupta & Associates as statutory auditor for a second 5-year term through FY 2029-30, (2) appointment of M/s. DSM & Associates as secretarial auditor for its first 5-year term through FY 2029-30, and (3) an amendment to the Articles of Association by inserting a new clause (41A) allowing the company to issue shares to employees and directors (excluding independent directors) under an Employee Stock Option Scheme (ESOP). The auditor appointments are routine continuity decisions. The ESOP amendment is the most material item, as it creates a formal framework for the company to grant stock options subject to future shareholder approval via special resolution.
The auditor re-appointments have no material impact on shareholders. The ESOP clause amendment could lead to future equity dilution if stock options are granted and exercised, but no specific grants or amounts have been announced yet — it only enables the framework.