Lloyds Enterprises to revamp articles of association, seeks shareholder approval

Lloyds Enterprises Limited announced that its board of directors approved significant alterations to its existing Articles of Association (AOA) by adopting a new set. This move aims to align the company's AOA with the Companies Act, 2013, and best governance practices. The changes are subject to shareholder approval via postal ballot and any necessary regulatory clearances.

The board has also approved a postal ballot notice to seek shareholder consent for material related party transactions under Regulation 23 of SEBI Listing Regulation, and for advancing loans, giving guarantees, or providing security under Section 185 of the Companies Act, 2013. A soft copy of the postal ballot notice will be circulated to shareholders shortly.

The revised AOA is broadly based on Table F of the Companies Act, 2013, with bespoke regulations for company management. Detailed disclosures regarding these alterations are provided in Annexure I, as required by SEBI Listing Regulations and a circular dated November 11, 2024.