Phoenix Mills has successfully concluded its postal ballot process, with shareholders approving both proposed resolutions related to leadership restructuring and director remuneration policy. The company announced the voting results on December 29, 2025, following the completion of the remote e-voting period.

Postal Ballot Results

The voting process, conducted from November 29, 2025, to December 28, 2025, saw strong shareholder participation across both resolutions. Mr. Himanshu S. Kamdar from Rathi & Associates served as the scrutinizer for the remote e-voting process.

Resolution 1: Leadership Restructuring

Resolution 2: Director Remuneration Policy

Approved Changes

Leadership Transition

Shareholders have approved the redesignation of Mr. Shishir Shrivastava from Managing Director to Non-Executive Vice Chairman. This change will be effective for a two-year period from October 1, 2025, to September 30, 2027. The overwhelming approval rate of 99.81% demonstrates strong shareholder confidence in this strategic leadership transition.

Director Remuneration Framework

The second resolution, approving the payment of remuneration including commission to Non-Executive Directors, received 98.91% approval. This policy will be applicable for five financial years starting from April 1, 2025, with remuneration capped at one percent of the company's annual net profits.

Shareholder Participation

The postal ballot process demonstrated significant shareholder engagement, with 79,988 shareholders on record as of the cut-off date of November 21, 2025. The total voting participation reached 87.66% of outstanding shares for the first resolution and 87.66% for the second resolution, indicating strong shareholder interest in the company's governance matters.

Strategic Implications

These approved changes position Phoenix Mills for enhanced governance and strategic direction. The leadership restructuring allows for a fresh management approach while maintaining continuity through Mr. Shrivastava's continued involvement as Vice Chairman. The approved remuneration policy aligns Non-Executive Director interests with shareholder value creation through performance-based compensation.

The voting results and scrutinizer's report are available on the company's website and will be filed with relevant regulatory authorities as per compliance requirements.

The Phoenix Mills Limited Equity Share Allotment

Phoenix Mills has recently announced the allotment of equity shares. This development is part of the company's ongoing capital management strategies.

Key Details of the Allotment

• The company has allotted 115,000 equity shares.
• These shares have a face value of Rs. 2.00 each.
• The allotment is made under the company's Employee Stock Option Plan (ESOP).

Impact and Implications

This equity share allotment under the ESOP scheme may have several implications for the company:

1. Employee Motivation: ESOPs are often used as a tool to align employee interests with those of the company, potentially boosting motivation and retention.

2. Capital Structure: The allotment will slightly increase the company's outstanding shares, which may have a minor dilutive effect on existing shareholdings.

3. Financial Impact: While the immediate financial impact may be limited, the company may receive funds as employees exercise their options, which could be used for various corporate purposes.

Conclusion

Investors and stakeholders may want to monitor how this allotment fits into Phoenix Mills' broader strategy for employee compensation and capital management. While this particular allotment is relatively small, it's part of the ongoing evolution of the company's equity structure and employee incentive programs.