Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, we pleased to inform you that the Board of Directors of the Company at ....
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Olatech Solutions Ltd's board, at its meeting on April 1, 2025, approved the appointment of Mr. Vijay Mukesh Thakkar as Additional Non-Executive Independent Director for a 5-year term starting April 1, 2025, subject to shareholder approval. Thakkar is a Company Secretary member with over 9 years of experience in corporate compliance and law. The board also approved an increase in the remuneration of Mr. Amit Kumar Singh, Chairman and Managing Director, and noted that director remuneration may exceed the overall managerial limit under Section 197 of the Companies Act, 2013, both subject to shareholder approval. Additionally, the Audit Committee, Nomination and Remuneration Committee, and Stakeholder Relationship Committee were reconstituted with the new director.
The changes strengthen board independence by adding a qualified legal/compliance professional, but the proposed increase in MD remuneration (requiring shareholder approval) may be a point of investor focus. Overall, these are routine governance updates with no immediate material impact on the stock.