Neogen Chemicals Limited has informed the Exchange that Record date for the purpose of Postal Ballot is 09-Jun-2025.
NEOGEN · price
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Neogen Chemicals' board, at its meeting on June 3, 2025, approved the continuation of Prof. Ranjan Kumar Malik as a Non-Executive Independent Director beyond the age of 75, until the end of his current term on October 5, 2028, subject to shareholder approval via postal ballot. The record date for the postal ballot has been set as June 9, 2025, with e-voting scheduled from June 13 to July 12, 2025, and results to be declared on July 15, 2025. The company also disclosed that NSE has levied a fine of Rs. 3,61,080 (including 18% GST) for non-compliance with Regulation 17(1A) of the Listing Regulations, as the company did not specifically reference this regulation in the earlier special resolution approving the re-appointment of a director crossing 75 years. The fine covers 63 days in the quarter ended December 31, 2024 and 90 days in the quarter ended March 31, 2025, at Rs. 2,000 per day. The company has stated there is no material impact on its financial or operational activities other than the fine amount.
The NSE fine of about Rs. 3.6 lakh is a minor, one-time compliance cost with no meaningful effect on the company's financials or operations. The postal ballot is a routine procedural step to regularize the director's continuation and should not affect the stock price.