Bank of Maharashtra — Important, 12-05-2025: Disclosure of material issue

Bank of Maharashtra has announced a board meeting and approved holding an election for one Shareholder Director at the upcoming AGM to fill a current vacancy. After raising Rs. 3500 crore via QIP in October 2024, public shareholding exceeded 16%, entitling the bank to two Shareholder Directors. While one was elected earlier this year, the second position remains vacant following a canceled election due to no valid nominations. The company has set a nomination deadline and shareholder eligibility date to ensure the vacancy is filled.

Issue: Vacancy of one Shareholder Director seat following increased public shareholding.

Impact: Filling this seat will enhance board representation, reinforce governance, and likely boost investor confidence.

Company’s approach: Calling the election at the upcoming AGM with a defined nomination process and timeline.