Kabra Extrusiontechnik Secures Overwhelming Shareholder Mandate: All Key Resolutions Approved

Kabra Extrusiontechnik Ltd. has announced the successful conclusion of its postal ballot, revealing an unequivocal mandate from its shareholders. In a significant development for the company's governance and strategic direction, all resolutions presented for shareholder approval have been passed with the requisite majority, underscoring strong investor confidence.

Among the pivotal decisions ratified by the shareholders is the re-appointment of Mr.

Anand Kabra as a Whole-time Director, who will also serve as the Managing Director. His new term is set for five years, commencing from April 1, 2024. This re-appointment reflects the shareholders' trust in Mr. Kabra's leadership and his vision for the company's sustained growth and operational excellence.

Equally crucial was the approval of alterations to the company's Memorandum of Association (MOA), specifically pertaining to the objects clause.

This strategic amendment is designed to provide Kabra Extrusiontechnik with greater flexibility and scope in its operations, potentially paving the way for diversification or expansion into new business avenues. Such modifications are often vital for companies looking to adapt to evolving market dynamics and capitalize on emerging opportunities.

The voting results demonstrate a resounding endorsement from shareholders.

The resolution for Mr. Anand Kabra's re-appointment garnered an overwhelming 99.98% 'For' votes, with only a marginal 0.02% 'Against'. Similarly, the alteration of the MOA saw 99.99% of votes cast 'For' the resolution, against a mere 0.01% 'Against'. These figures highlight the near-unanimous support for the management's proposals.

The postal ballot process was meticulously scrutinized by M/s.

B. Narayanan & Co., Practicing Company Secretaries, ensuring transparency and adherence to all regulatory compliances. The company has affirmed that all necessary disclosures regarding these approvals will be promptly filed with the stock exchanges, keeping the investor community fully informed. These approvals are expected to reinforce Kabra Extrusiontechnik's corporate governance framework and provide a clear pathway for its future strategic initiatives.