RHI MAGNESITA INDIA LTD has informed the Exchange regarding Proceedings of Postal Ballot. Further, the company has submitted the Exchange a copy of Srutinizers report along with copy of minutes.
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RHI Magnesita India announced the results of its postal ballot (notice dated 12 June 2025), with all four resolutions passed effective 24 July 2025. Out of 69,546 shareholders holding 20.65 crore shares, about 67% of shares participated in the e-voting. Resolution 1 (appointment of Priyabrata Panda as Independent Director) passed with 99.997% support, Resolution 2 (re-appointment of Nazim Sheikh as Independent Director for a second term) with 99.91%, and Resolution 3 (appointment of Azim Syed as Director) with 99.94% — all saw near-unanimous approval. Resolution 4, covering Azim Syed's appointment and remuneration as Whole-Time Director and CFO, passed with 94.9% support but saw notable dissent, with about 20% of public institutional shareholders voting against it.
Three director-related resolutions are routine and uncontested, so no material impact on the stock is expected. The 20% institutional dissent on Azim Syed's appointment and remuneration as WTD/CFO is the one point worth watching, as it may signal investor concerns on pay or governance around his combined CEO/CFO role.