Onesource Specialty Pharma Limited has informed the Exchange regarding Notice of Postal Ballot
ONESOURCE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Onesource Specialty Pharma Limited (formerly Stelis Biopharma) has issued a postal ballot notice dated June 30, 2025, seeking shareholder approval on two special resolutions through remote e-voting. The first resolution is to appoint Mr. Colin Michael Bond (DIN: 10982819) as Independent Director for a 5-year term from June 23, 2025 to June 22, 2030, with sitting fees of INR 1 lakh per Board/Committee meeting plus an annual commission. The second resolution is to revise the remuneration of Managing Director Mr. Neeraj Sharma (DIN: 09402652) to INR 65.87 million per annum, effective April 1, 2025, which includes fixed pay, a target performance bonus not exceeding INR 16.87 million, and a Long-term Incentive Plan (LTIP). Annual increments for the remainder of his tenure (ending February 28, 2029) are capped at 30% of existing remuneration. E-voting runs from July 1, 2025 (9:00 a.m. IST) to July 30, 2025 (5:00 p.m. IST), with results to be announced by August 1, 2025; the cut-off date for eligibility is June 27, 2025.
Routine corporate governance and compensation-related items with no major operational or strategic impact expected on the stock. Shareholders should cast their votes through NSDL e-voting before the July 30, 2025 deadline. The MD pay revision links a meaningful portion of compensation to performance and LTIPs, which is generally viewed as shareholder-friendly.