Refex Industries Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot under Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
REFEX · price
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Refex Industries announced the results of its postal ballot conducted via remote e-voting from April 03 to May 02, 2025. Three resolutions were passed: (1) A special resolution allowing investments, loans, and guarantees beyond Section 186 limits, approved with 99.23% in favor (74.7 million votes for, 0.58 million against). (2) A special resolution to amend the Refex Employee Stock Option Scheme 2021, approved with 98.61% in favor (74.3 million for, 1.04 million against). (3) An ordinary resolution for material related party transactions with subsidiary Venwind Refex Power Limited, approved with 83.70% in favor (5.3 million for, 1.04 million against). Promoters, being interested parties, did not vote on Resolution 3. Total paid-up equity shares stood at 129.18 million with 84,054 shareholders on record date.
The Section 186 approval gives the company wider room to make investments and extend loans/guarantees without repeated shareholder approvals. The ESOP amendment may change employee compensation terms, potentially impacting future stock-based payouts. The RPT with Venwind Refex Power was cleared despite notable dissent (~16%) from institutional investors, which may signal some governance concerns among large funds.