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The proceedings of the Postal Ballot e-voting process for Exxaro Tiles Limited have concluded successfully. The Board approved resolutions for a split of the existing equity shares from 1 share of face value ₹10 to 10 shares of face value ₹1, along with an alteration to the Capital Clause of the Memorandum of Association.
The remote e-voting, conducted by M/s. Vasant Patel & Associates, received significant participation. Out of 20,508,300 votes cast, an overwhelming 99.98% supported the share split, with only 0.02% against. Similarly, for the Capital Clause alteration, 99.98% voted in favor, leaving just 0.02% opposed.
Both resolutions were passed with the required majority, indicating strong shareholder support. This development may enhance share liquidity and potentially attract more investors. Stakeholders should view this as a positive movement for the company’s growth prospects.