RHI MAGNESITA INDIA LTD has informed the Exchange regarding Notice of Postal Ballot
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RHI Magnesita India has sent out a Postal Ballot Notice to shareholders seeking approval for the appointment of Mr. Alvaro Martin Rivero (DIN: 11433702) as a Non-Executive and Non-Independent Director, liable to retire by rotation. He was initially appointed as an Additional Director on 14 January 2026, and the company now needs shareholder approval within three months as required by SEBI's listing rules. Mr. Alvaro is 43 years old, a qualified Chartered Accountant (Spain and England & Wales), and currently serves as Group Head of Reporting and Finance and Tax at the parent company RHI Magnesita N.V.; he was earlier a Partner at Ernst & Young. He will not draw any remuneration from the Indian entity and holds no shares in the company. Shareholders can vote electronically via NSDL between 7 March 2026 (9:00 AM IST) and 5 April 2026 (5:00 PM IST), with the cut-off date set as 4 March 2026; results will be announced by 7 April 2026.
This is a routine governance matter confirming the appointment of a nominee from the parent company as a non-executive director, with no impact on financials or shareholding. Since Mr. Alvaro is a representative of the promoter group (RHI Magnesita N.V.) and gets no remuneration from the Indian company, shareholder approval is largely a procedural formality and should not affect the stock price.