Vardhman Textiles Limited has submitted the Exchange a copy Scrutinizers report of Postal Ballot. Further, the company has informed the Exchange regarding voting results.
VTL · price
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Awaiting price reaction for this filing.
Vardhman Textiles Limited has submitted the results of a postal ballot conducted to seek shareholder approval for a special resolution to alter the Object Clause of the Memorandum of Association. Out of 84,541 shareholders on record date, 371 members cast votes representing 242,220,787 shares (83.74% of paid-up share capital). The resolution was passed with overwhelming majority, with 99.9991% of votes polled in favor (242,218,511 shares) and only 0.0009% against (2,276 shares). Both promoter group and public institutional shareholders voted 100% in favor, while public non-institutional shareholders voted 98.44% in favor, though their participation was very low at just 0.37% of their holdings.
The resolution to alter the Object Clause of the Memorandum of Association has been approved, giving the company flexibility to expand or modify its business activities. This is a routine corporate governance matter with no negative signals — the resolution passed with near-unanimous support. No material impact on share price is expected from this filing alone.