Prime Securities Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on July 03, 2025
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Prime Securities Limited has announced its 42nd Annual General Meeting (AGM) to be held on Thursday, July 3, 2025 at 3:30 PM IST via video conferencing. The ordinary business includes adoption of audited standalone and consolidated financial statements for FY ended March 31, 2025, declaration of a final dividend of ₹1.50 per equity share (face value ₹5), and re-appointment of Mr. Sujit Kumar Varma as a Non-Executive Director via rotation. Two special business items require shareholder approval: appointment of M/s. Pramod S. Shah & Associates as Secretarial Auditor for five years (April 2025 to March 2030) at ₹0.80 lakhs per year with 7% annual increase, and approval of remuneration for Managing Director & Group CEO Mr. N. Jayakumar. The MD remuneration package includes a basic salary of up to ₹24 lakh per month, house rent allowance up to 80% of basic, and a performance bonus of up to ₹800 lakh per year, with a minimum remuneration clause for years with inadequate profits. The record date is June 26, 2025, remote e-voting runs from June 30 to July 2, 2025, and dividend payment begins from July 10, 2025.
This is a routine AGM notice, but shareholders should review two key votes: the ₹1.50 dividend (modest yield) and the sizeable MD remuneration package (potential up to ₹24 lakh monthly salary plus ₹800 lakh annual bonus). The remuneration resolution needs to pass as a special resolution, meaning the 30% MD compensation limit could be exceeded in loss years.