Please find attached the Postal Ballot Voting Results of the Company through remote e-voting.
TIMEX · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Timex Group India shareholders approved all three resolutions through a postal ballot (remote e-voting) held from April 26 to May 25, 2025. All three were special resolutions relating to Managing Director Deepak Chhabra: (1) waiver of excess remuneration paid for March 2024 to February 2025 (99.98% in favour), (2) revision of his remuneration from March 1, 2025 onwards (99.98% in favour), and (3) re-appointment as Managing Director (99.99% in favour). Of 47,667 eligible shareholders, only 146 cast votes, but they represented about 74.97% of outstanding equity (75.68 lakh shares), with promoters (75.65 lakh shares) backing all resolutions unanimously. Minority public (non-institutional) shareholders showed notable dissent on the pay-related items (43% and 39% against) but were broadly supportive of the re-appointment (only 23.8% against).
The results are largely procedural and confirm continuity of MD Deepak Chhabra with revised pay terms; the modest minority dissent on remuneration signals some governance sensitivity, but is unlikely to materially move the stock given the promoter's overwhelming support.