Non-Executive Director not re-appointed by shareholders at AGM
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Mercury Laboratories informed that Mr. Dilip Ramanlal Shah, Non-Executive Director, ceased to be a director after shareholders did not approve his re-appointment at the 45th AGM held on September 28, 2026. He had retired by rotation but the resolution for re-appointment did not get the required majority. He also stepped down from the CSR Committee. The company clarified that the cessation is solely due to non-approval by members and not for any other reason.
Shareholders rejecting a director's re-appointment is unusual and may signal governance concerns, potentially affecting investor confidence in the company.