Voting Results of the 30th Annual General Meeting of the Company
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Shangar Decor Ltd held its 30th AGM on 30 September 2025 and put 8 resolutions to vote. Four ordinary resolutions passed comfortably, including adoption of financial statements, re-appointment of a director, appointment of statutory and secretarial auditors, and regularization of a new non-executive director. However, three special resolutions were rejected by shareholders, all related to increasing managerial remuneration and expanding the company's powers to give loans, guarantees, and security under Sections 185 and 186 of the Companies Act. The promoter group, holding roughly 2.9% of shares, voted 100% in favour of every resolution, but public non-institutional shareholders voted over 86% against these three special resolutions, causing them to fail. Overall, only about 4.78% of the company's total share base participated in voting.
The rejection of three special resolutions is a notable setback for management, showing public shareholders are unwilling to give the board a blank cheque on higher managerial pay or broader lending powers. The extremely low promoter holding (under 3%) means minority shareholders effectively control outcomes, which could limit the company's ability to pursue related-party transactions or leadership compensation hikes in the future.