Announcement under Regulation 30(LODR- Change in Management as PDF attached.
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The Board of Modulex Construction Technologies has approved the redesignation of Mr. Jayesh Sheth from Non-Executive Independent Director to Whole Time Director, designated as Executive Director – Finance. The change is for a 3-year term starting 15th April 2025 and ending 14th April 2028, subject to shareholder approval. The board decision was made at a meeting held on 15th April 2025, based on the recommendation of the Nomination and Remuneration Committee. Mr. Sheth is not related to any promoter or director and is not debarred from holding office by SEBI or any other authority.
This converts an independent oversight role into an executive finance role, which is a governance change that shareholders need to approve. Investors may watch for the company's financial strategy and any shifts in board independence, as one Independent Director seat will become vacant and need to be filled.