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Awaiting price reaction for this filing.
Stovec Industries Ltd, a subsidiary of Netherlands-based SPGPrints B.V., held its 51st AGM on May 5, 2025 via video conferencing. All 10 resolutions were passed with overwhelming majority (~99.99% votes in favor), covering approval of FY2024 financial statements, confirmation of Rs. 115 per share dividend as final dividend, appointment/re-appointment of directors including Independent Directors, appointment of Price Waterhouse as statutory auditor for 5 years, commission to Chairman K.M. Thanawalla for FY2024 in excess of prescribed limit, and appointment of Sandip Sheth & Associates as secretarial auditor. The Chairman announced his retirement from the board. Holding company SPGPrints B.V. holds 71.06% of equity (14,83,777 shares). The auditor's report had one observation about failure to maintain audit trail for part of the year.
Routine AGM filing with all resolutions passed cleanly. The Rs. 115 per share dividend has been formally confirmed as final for FY2024. Chairman K.M. Thanawalla's retirement is a notable governance change for shareholders to monitor. No material negative signals as all resolutions received near-unanimous support from the controlling shareholder.