Persistent Systems has approved the reappointment of four Independent Directors for second terms to ensure governance continuity. The Board of Directors at its meeting on June 8, 2026, recommended the proposals for Ms. Avani Davda, Mr. Arvind Goel, Dr. Ambuj Goyal, and Mr. Dan'l Lewin. These reappointments are subject to approval by the Members of the Company at the ensuing 36th Annual General Meeting (AGM) to be held in July 2026, in accordance with the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Reappointment Details

The Nomination and Remuneration Committee recommended the reappointments to prevent any gap between the completion of the existing terms and the commencement of the new terms. The specific terms for each director vary based on their current tenure and age limits.

Director Profiles and Disclosures

Ms. Avani Davda, currently a strategic advisor with the Bain Advisory Network, serves as the Chairperson of the CSR Committee. She does not have any inter-se relationship with other directors. Mr. Arvind Goel, Executive Chairman of Tata AutoComp Systems Limited, serves as Chairman of the Stakeholders Relationship and ESG Committee. The filing disclosed that Dr. Anand Deshpande and Dr. Ajit Ranade are Directors of the Mahratta Chamber of Commerce Industries and Agriculture, where Mr. Goel is also a Director.

Dr. Ambuj Goyal, who advises multiple start-ups and private equity firms, serves as Chairman of the Nomination and Remuneration Committee. His term is limited until he attains the age of 75 years in October 2031. Mr. Dan'l Lewin, former President and CEO of the Computer History Museum, serves as a Member of the Nomination and Remuneration Committee. His proposed term ends in April 2029, the month he turns 75. None of the directors are debarred from holding the office of director by any SEBI order.

Corporate Restructuring Approvals

The Board approved the transfer of 100% shareholding of Persistent Systems UK Limited from Persistent Systems Limited, India to Aepona Group Limited, Ireland as a part of internal restructuring to achieve entity rationalisation and operational efficiency. Additionally, the Board approved the merger of M/s. MediaAgility India Private Limited, a Wholly Owned Subsidiary, into Persistent Systems Limited, the Holding Company. This merger is subject to necessary statutory approvals under the Companies Act, 2013. MediaAgility India Private Limited reported a turnover of INR 365.55 million as of March 31, 2026.

Persistent Systems Limited’s Board has approved the transfer of 100% shareholding of Persistent Systems UK Limited from the company to Aepona Group Limited, Ireland. The decision, taken during a Board meeting held on June 8, 2026, is part of an internal restructuring aimed at achieving entity rationalisation and operational efficiency within the group. Upon execution of the Share Purchase Agreement (SPA), Persistent Systems UK Limited will become a Wholly Owned Subsidiary of Aepona Group Limited, Ireland.

The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and relevant SEBI Circulars. The Board confirmed that there is no benefit to the promoter, promoter group, or group companies from this proposed restructuring. The transaction involves a complete change in the shareholding pattern of the UK entity, moving it from the Indian parent to the Ireland-based group entity.

Restructuring Details

The following table outlines the key particulars of the restructuring approved by the Board: