Tamilnad Mercantile Bank Limited has informed the Exchange regarding Proceedings of 103rd Annual General Meeting held on August 08, 2025
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Tamilnad Mercantile Bank held its 103rd AGM on August 8, 2025, via video conferencing, chaired by Additional Independent Director Shri. K. Ramachandran, with 153 shareholders attending remotely. Key resolutions included adoption of audited financial statements for FY 2024-25, declaration of a final dividend of ₹11 per equity share (110% of face value), and re-appointment of Joint Statutory Central Auditors (Sundaram & Srinivasan and Chandran & Raman) for FY 2025-26 at a remuneration of ₹24 lakh each. Other resolutions covered re-appointment of Shri. A. Niranjan Sankar as Non-Executive Director, appointment of Shri. K. Ramachandran as Independent Director for three years, and appointment of SPNP & Associates as Secretarial Auditors for FY 2025-26 to 2029-30. E-voting was held from August 5-7, 2025, and the meeting concluded at 12:07 PM with voting results to be announced separately within the regulatory timeline.
The ₹11 final dividend (110% on face value) is a meaningful payout for shareholders, reflecting the bank's profitability for FY 2024-25. The re-appointments of directors and auditors signal continuity in governance, with the formal voting results still pending announcement.