LGB Forge shareholders approve director appointment, MoA changes
- Shareholders approved the appointment of Arjun Parthasarathy as Non-Executive Non-Independent Director
- Special resolutions to alter the Memorandum and Articles of Association passed with near-unanimous support
- Total votes polled exceeded 79 million shares across all three resolutions
- Promoter group voted 100% in favour, casting over 78 million shares
*this image is generated using AI for illustrative purposes only.
LGB Forge shareholders approved three key resolutions through a postal ballot process that concluded on September 18, 2026. The votes covered the appointment of a new non-executive director and amendments to the company’s constitutional documents.
The board sought approval for an ordinary resolution to appoint Arjun Parthasarathy as a Non-Executive Non-Independent Director. Additionally, two special resolutions were put forward to alter the Objects Clause of the Memorandum of Association and to amend the Articles of Association.
Voting Results
The postal ballot was conducted via remote e-voting from August 20, 2026, to September 18, 2026. As of the cut-off date on August 14, 2026, the company had 38,084 shareholders on record. The total number of shares eligible for voting stood at 238,202,463.
| Resolution | Type | Votes Polled | Votes In Favour | Votes Against | Approval Rate |
|---|---|---|---|---|---|
| Appointment of Arjun Parthasarathy | Ordinary | 79,094,331 | 79,046,468 | 47,863 | 99.94% |
| Alteration of MoA Objects Clause | Special | 79,105,201 | 79,105,184 | 17 | 100.00% |
| Alteration of AoA | Special | 79,105,201 | 79,105,169 | 32 | 100.00% |
All three resolutions were passed with the requisite majority. P. Eswaramoorthy and Company served as the scrutinizer for the e-voting process, confirming the results in its report dated September 19, 2026.
Promoter Support
The promoter group, holding 168,671,312 shares, cast 78,240,878 votes across all resolutions. Promoter votes accounted for approximately 99% of the total votes polled, with 100% of these votes cast in favour of each resolution. Public non-institutional shareholders contributed the remaining vote share, with participation rates around 1.23% to 1.24% of their holdings.
No promoters or promoter group members were declared as interested in any of the agenda items. The alterations to the Memorandum and Articles of Association are expected to streamline the company’s operational framework and governance structures.
Historical Stock Returns for LGB Forge
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.57% | -5.42% | -8.23% | -15.07% | -44.08% | -26.71% |
What specific operational expansions or new business verticals does the alteration to the Memorandum of Association Objects Clause enable for LGB Forge?
How might the appointment of Arjun Parthasarathy as a Non-Executive Director influence the company's strategic direction and board dynamics going forward?
Given the low participation rate of public non-institutional shareholders, what measures might LGB Forge implement to improve retail investor engagement in future corporate actions?
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