Petronet LNG Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot. Further, the company has informed the Exchange regarding voting results.
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Petronet LNG Limited has announced the results of its postal ballot held from 30th May to 28th June 2025, covering two ordinary resolutions. Both resolutions were approved by shareholders. The first resolution to appoint Shri Saurav Mitra as Director (Finance) & Chief Financial Officer was passed with 80.55% votes in favour (1,027,817,426 votes) and 19.45% against (248,172,925 votes). The second resolution to appoint Shri Sanjay Khanna as Nominee Director (representing BPCL, a promoter) was passed with 75.13% votes in favour (958,659,538 votes) and 24.87% against (317,319,475 votes). Promoter group (50% stake, holding 750,000,000 shares) voted 100% in favour of both resolutions. About 85% of total outstanding shares participated in the voting. Public institutions notably showed mixed support, particularly opposing the BPCL nominee director with 60.45% voting against.
Both key board appointments have been cleared by shareholders, filling the CFO position and adding BPCL's nominee to the board. Strong promoter backing ensured passage despite notable dissent from public institutions (especially on the BPCL nominee). No material adverse impact on the stock is expected as both were largely expected corporate governance exercises.