Resignation tendered by Mr. G. Rama Rao, Non-executive director of the company w.e.f. 19-05-2025
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Awaiting price reaction for this filing.
Midland Polymers Ltd informed the BSE that Mr. G. Rama Rao (DIN: 10626682) has resigned as a Director of the company with effect from 19-05-2025. The resignation was approved at a Board meeting held the same day from 1:30 PM to 2:00 PM. Mr. Rama Rao cited personal and unavoidable circumstances, and his resignation letter also mentions other professional commitments as the reason. He confirmed there are no other material reasons for stepping down. He also serves as a director on the board of Taaza International Limited, another listed entity. The filing was signed by Managing Director Vanaja Veeramreddy.
This is a routine board-level change involving a non-executive director stepping down for personal reasons. Since no governance concerns were flagged and the Managing Director remains in place, the immediate impact on shareholders or stock price is likely minimal. Investors may, however, watch for any further board changes or disclosure of the reasons behind multiple resignations, if any follow.