Disclosure of Voting results of Extra Ordinary General Meeting of Nikhil Adhesives Limited held on Monday, 16th June, 2025
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Nikhil Adhesives Limited held an Extra Ordinary General Meeting on June 16, 2025, via video conferencing, where shareholders approved all four special resolutions with near-unanimous support (99.9995% in favor). The resolutions included the regularization of Mr. Sethunathan Charlayath Laxmanan as a Non-Executive Independent Director, appointment of Dr. Satish Gaonkar as Executive Director, appointment of Mr. Madhu T Ankleshwaria as Independent Director, and an increase in the company's borrowing limits under Section 180(1)(c) of the Companies Act. Out of 13,573 shareholders on record as of June 9, 2025, around 39.47% of outstanding shares (18,131,783 votes) were polled, with only 90 votes against across all resolutions. Promoters (holding 25,010,100 shares) voted entirely in favor, while public non-institutional holders showed 99.81% support.
The near-unanimous approval signals strong shareholder confidence in the company's board changes and expansion plans. The approval to raise borrowing limits indicates management may pursue additional debt funding, which could fund growth or acquisitions but also raises leverage risk for shareholders to monitor.