Polyplex Corporation Limited has announced the successful conclusion of its postal ballot e-voting process, with shareholders approving both resolutions put to vote. The remote e-voting period ran from Friday, June 05, 2026 (09:00 A.M. IST) to Saturday, July 04, 2026 (05:00 P.M. IST), conducted through the e-voting platform of KFin Technologies Limited (KFintech). The Scrutinizer's report, prepared by CS Ravi Sharma, Managing Partner of RSM & Co., Company Secretaries, was submitted on July 06, 2026, confirming that both resolutions were passed with the requisite majority.

Postal Ballot Overview

The postal ballot was initiated pursuant to Regulation 44(3) of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, and Section 108 of the Companies Act, 2013. The Postal Ballot Notice was dated May 23, 2026, and the cut-off date for determining eligible shareholders was Friday, May 29, 2026. A newspaper advertisement was published on June 05, 2026, in Business Standard (English) and Uttar Ujala (Hindi) with details of the notice and e-voting instructions.

Resolution 1: Appointment of Independent Director — Special Resolution

The first resolution sought approval for the appointment of Mr. Rakesh Bhartia (DIN: 00877865) as an Independent Director of the Company with effect from May 12, 2026. This was a Special Resolution, and the promoter/promoter group had no interest in the agenda. The resolution received overwhelming support across all shareholder categories, with a total of 1,78,41,564 votes cast in favour out of 1,78,44,035 total valid votes polled.

The Scrutinizer's consolidated report confirmed that 286 members voted in favour (representing 1,78,41,564 shares, or 99.986% of valid votes), while 25 members voted against (representing 2,471 shares, or 0.014%). Additionally, 4 members abstained, accounting for 3,085 shares.

Resolution 2: Appointment of Non-Executive, Non-Independent Director — Ordinary Resolution

The second resolution sought approval for the appointment of Mr. Ranjit Singh (DIN: 01651357) as a Non-Executive, Non-Independent Director of the Company with effect from May 25, 2026. This was an Ordinary Resolution, with no interest declared by the promoter/promoter group. The resolution also received strong shareholder support, with 1,78,41,151 votes cast in favour out of 1,78,44,036 total valid votes polled.

The Scrutinizer's consolidated report confirmed that 280 members voted in favour (representing 1,78,41,151 shares, or 99.984% of valid votes), while 32 members voted against (representing 2,885 shares, or 0.016%). As with Resolution 1, 4 members abstained, accounting for 3,085 shares.

Scrutinizer's Confirmation and Compliance

CS Ravi Sharma of RSM & Co., Company Secretaries (FCS: 4468, COP No.: 3666), acting as the appointed Scrutinizer, confirmed that both resolutions were passed with the requisite majority and requested the Company to formally announce the voting results. The voting results, along with the Scrutinizer's report, have been made available on the Company's website at www.polyplex.com and on the RTA's website at evoting.kfintech.com. The disclosure was made in compliance with Regulation 44(3) of SEBI (LODR) Regulations, 2015, and Section 108 of the Companies Act, 2013, read with Rule 20 of the Companies (Management and Administration) Rules, 2014. The filing was signed by Ashok Kumar Gurnani, Company Secretary of Polyplex Corporation Limited, on July 06, 2026.

Polyplex Corporation has decided not to participate in a tender offer for its majority stake in its Thai subsidiary, Polyplex (Thailand) Public Company Limited (PTL). The board of directors resolved independently to decline the offer regarding its 51% shareholding in PTL during a meeting held on July 01, 2026. This decision impacts the company's investment in PTL, where it holds a controlling interest.

Tender Offer Background

The tender offer was initiated by AGPH (Thailand) Ltd, the Offeror, which filed the offer with the Stock Exchange of Thailand and the Securities and Exchange Commission, Thailand. PTL received a copy of the tender offer on June 29, 2026. Prior to this, Polyplex Corporation had informed the exchanges on June 22, 2026, about the Offeror's intention to acquire all ordinary shares of PTL.

Key Entities Involved

The following table outlines the key entities and their respective roles in this transaction:

Board Meeting Details

The board meeting to deliberate on this matter commenced at 1800 hours IST and concluded at 1832 hours IST on July 01, 2026. The disclosure was made under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.