Submision of Scrutinizer Report and Voting Results
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Polo Queen Industrial and Fintech Ltd has submitted the voting results and Scrutinizer's Report for a Postal Ballot conducted via remote e-voting, which closed on May 4, 2025. Two special resolutions were passed with overwhelming majority. Resolution 1 approved the re-appointment of Ms. Feroza Jamsheed Panday (DIN: 00232812) as an Independent Director for a second 5-year term, with 99.9986% of valid votes in favor (10,55,51,628 votes) and only 1,404 votes against. Resolution 2 approved a material related party transaction with Sanghai Holdings Private Limited, with 99.9508% of valid votes in favor (29,75,594 votes) and 1,464 against. Promoters' 10,25,74,510 votes were excluded from Resolution 2 as they hold 100% stake in Sanghai Holdings and are deemed interested parties.
Both resolutions passed decisively, giving the company continued independent directorship and clearance for a related party transaction. The high approval margins suggest strong shareholder support, though the low public turnout on Resolution 2 (only 0.88% of outstanding shares voted, excluding promoters) is worth noting. Shareholders should review the nature and terms of the related party transaction with Sanghai Holdings for governance considerations.