Please find attached outcome of Postal Ballot
SHALPAINTS · price
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Shalimar Paints conducted a postal ballot (voting from April 17 to May 16, 2025) to seek shareholder approval for the appointment of Mr. Kuldip Raina as Director and as Managing Director & CEO (MD & CEO) of the company. Both resolutions were passed with overwhelming majority. For the Director appointment, 99.99% of polled votes (6.22 crore shares) were in favour, with only 789 shares against. For the MD & CEO appointment, 99.997% of polled votes (6.22 crore shares) were in favour, with only 2,023 shares against. Overall, 74.33% of total outstanding shares participated in the voting process. The scrutinizer, Mr. Ankush Agarwal of M/s. MAKS & Co., Company Secretaries, certified the results on May 19, 2025.
Mr. Kuldip Raina has been formally appointed as the new Managing Director & CEO, marking a key leadership change at Shalimar Paints. The near-unanimous shareholder support signals strong confidence in the new leadership and direction of the company.