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Awaiting price reaction for this filing.
Nettlinx Limited has informed stock exchanges that it has completed the dispatch of a Postal Ballot Notice to its members. Three Special Resolutions are being put to vote through remote e-voting (no physical ballot). The first resolution seeks approval for the sale of shares held in Sri Venkateswara Green Power Projects Limited, a material subsidiary of the company. The second and third resolutions relate to the appointment of Mr. Amarender Reddy Bandaru (DIN: 01750325) as an Independent Director and Mr. Rohith Loka Reddy (DIN: 06464331) as Managing Director. The cut-off date for eligibility was May 23, 2025, and the notice was dispatched on May 28, 2025. The e-voting window runs from May 30, 2025 to June 28, 2025, with results expected on or before June 30, 2025.
Shareholders should review the three Special Resolutions, particularly the proposed sale of the material subsidiary (Sri Venkateswara Green Power Projects), which could be material to the company's future structure and value. The re-appointment of Mr. Rohith Loka Reddy as Managing Director signals continuity in leadership. Results of the postal ballot will be decisive for the subsidiary divestment and board composition.