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Awaiting price reaction for this filing.
The Board of Sheraton Properties & Finance Ltd, at its meeting on August 29, 2025, approved the appointment of Mr. Nilesh Sheth (DIN: 09356319) as an Additional Director and Independent Director of the Company. His term is for five years, from August 29, 2025 to August 28, 2030, subject to shareholder approval at the upcoming Annual General Meeting. Mr. Sheth brings experience in metal raw material trading, procurement, and supply chain management. The appointment was based on the recommendation of the Nomination and Remuneration Committee, and he is not related to any existing Director on the Board.
This is a routine governance update with a single independent director addition; it is unlikely to materially affect the stock price but strengthens board composition. Shareholders will get to vote on confirming the appointment at the next AGM.