Submission of Scrutinizer''s Report for e-voting through Postal Ballot
Awaiting price reaction for this filing.
LTIMindtree Limited has submitted the Scrutinizer's Report for the postal ballot conducted from March 22 to April 20, 2025. Two ordinary resolutions were put to vote among shareholders. Resolution 1 sought the appointment of Mr. Venugopal Lambu as Whole-time Director and was approved with 99.01% votes in favour (252,074,194 votes), with only 0.99% against. Resolution 2 concerned a revision in the remuneration of existing Whole-time Director Mr. Nachiket Deshpande and was also passed with 99.04% votes in favour (252,148,290 votes), with just 0.96% dissenting. The cut-off date for eligibility to vote was March 14, 2025. Both resolutions have been deemed passed with the requisite majority as of April 20, 2025.
Shareholders have strongly approved the appointment of Mr. Venugopal Lambu as a Whole-time Director and a pay hike for Mr. Nachiket Deshpande, with both resolutions receiving over 99% support. This signals shareholder confidence in the leadership team but also increases the company's director remuneration outflow going forward. The overwhelming approval is unlikely to cause any material negative reaction in the stock.