Tembo Global Industries Limited has informed the Exchange regarding Proceedings of Postal Ballot by voting through electronic means
TEMBO · price
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Tembo Global Industries announced the results of its postal ballot concluded on May 14, 2025, with all 9 resolutions passed by shareholders. Four new independent directors were appointed: Ms. Homai Ardeshir Daruwalla, Mr. Ajay Madan, Mr. Sumantra Sarathi Mahata, and Mr. Nikunj Barot, each receiving 100% approval on votes polled. The company also received approval to raise its borrowing limit to INR 500 crores (99.99% in favor) and to introduce the TGI ESOP Scheme 2025 for employees (100% in favor). Other passed resolutions include expanding investment/loan powers under Section 186, approving material related party transactions, and changing the company's object clause. Overall voting turnout was around 42.58%, with promoter votes (which represent 91.34% of promoter group holdings) declared invalid on the related party transaction resolution as per regulatory rules.
Shareholders should note the company now has expanded borrowing capacity (up to INR 500 crores) and more operational flexibility, which could lead to higher debt or business expansion. The new ESOP scheme may result in some equity dilution over time, while the strengthened board with four additional independent directors should improve governance oversight.