Oricon Enterprises Limited has formally submitted the voting results of its postal ballot to stock exchanges following the successful re-appointment of an Independent Director. The company communicated the results to BSE Limited and National Stock Exchange of India Limited on December 27, 2025, pursuant to Regulation 44 of SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015.

Resolution Details and Approval

The special resolution for the re-appointment of Mr. Sumant Mimani (DIN: 01251535) as an Independent Director was passed with overwhelming shareholder support. The resolution concluded on December 26, 2025, marking the end of the e-voting period for his second consecutive term of five years.

Comprehensive Voting Results

The postal ballot witnessed significant participation across different shareholder categories, with the resolution receiving near-unanimous approval of 99.99%. The voting demonstrated strong confidence in the proposed re-appointment across all shareholder segments.

Regulatory Compliance and Stock Exchange Communication

The company has fulfilled its regulatory obligations by formally submitting the complete voting results to both stock exchanges. The submission included the scrutinizer report issued by Ms. Mayuri Bharat Thakkar, Practicing Company Secretary, along with digitally signed documentation by Company Secretary Sanjay Jain.

Shareholder Participation Analysis

The voting pattern reveals exceptional institutional confidence, with promoter and promoter group demonstrating complete unanimity in their support. Public non-institutional shareholders also showed substantial backing with 99.65% approval rate. The overall polling percentage of 63.11% indicates adequate shareholder participation in the governance process, ensuring the resolution met all regulatory requirements for passage.

The successful completion of this postal ballot process ensures continuity in the company's independent oversight structure, with Mr. Sumant Mimani set to continue his role as Independent Director for another five-year term, strengthening corporate governance practices.

Oricon Enterprises has made a strategic move in its business operations, transferring its metal crown seals and roll-on pilfer-proof closures business to Guala Closures (India) Private Limited. This transaction marks a significant shift in Oricon Enterprises' product portfolio and market positioning.

Key Points of the Transaction

Implications for Oricon Enterprises

This strategic divestment could potentially impact Oricon Enterprises in several ways:

1. Portfolio Restructuring: The move suggests a realignment of Oricon Enterprises' business focus, possibly to concentrate on other core areas or emerging opportunities.

2. Financial Considerations: While the financial terms of the deal have not been disclosed, such transactions often aim to optimize resource allocation and improve overall company performance.

3. Market Positioning: The divestiture may alter Oricon Enterprises' market position in the packaging industry, potentially affecting its competitive landscape.

Industry Context

The transfer of this specific business segment to Guala Closures India indicates possible shifts in the packaging industry:

• Consolidation Trends: This move might be part of broader industry consolidation, with specialized players like Guala Closures expanding their product offerings.
• Market Dynamics: The transaction could reflect changing market demands or evolving industry standards in packaging solutions.

As the details of the deal unfold, stakeholders will be keen to understand the strategic rationale behind this move and its potential impact on both Oricon Enterprises and the wider packaging sector. The market's response to this development will be an important indicator of its perceived value and implications for the industry at large.