Intimation of completion of tenure of Independent Directors
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Awaiting price reaction for this filing.
Stovec Industries Ltd informed the BSE that two Independent Directors — Mr. Khurshed Thanawalla and Mr. Marco Wadia — completed their second and final five-year term and ceased to be Independent Directors from the close of business on May 6, 2025. This is a routine end-of-tenure retirement, not an unexpected exit or resignation mid-term. The Annexure noted no other disclosures (profile, relationships, etc.) were applicable. Stovec is a subsidiary of Netherlands-based SPGPrints B.V.
This is a routine regulatory retirement, not an event-driven disruption, so no immediate share price impact is expected. However, two independent director positions are now vacant, and the company will need to appoint new independent directors in due course to maintain the required board composition.