REG - Federal Bank Ltd The - Result of Meeting <Origin Href="QuoteRef">FED.NS</Origin>

Federal BankAnnouncement

13/06/2017 13:15

RNS Number : 9627H
Federal Bank Ltd (The)
13 June 2017
 
 
SDF-24/  /2017-18 13th June 2017
   
To,
The London Stock Exchange
Dear Sir,
Subject: Declaration of results of postal ballot
Pursuant to the provisions of Section 110 of the Companies Act, 2013 and the underlying rules, the Bank sought approval of shareholders through postal ballot for the following matters:
1. Raising of Capital of the Bank through Issuance of Securities
2. Increasing the ceiling limit on total holdings of FII/FPIs through primary or secondary market route, up to an aggregate limit of 74% of the paid-up share capital of the Bank.
The last date for receipt of physical postal ballot forms and for e-voting was 7th June, 2017.
Mr. P Sivakumar, Managing Partner of SVJS & Associates, Practicing Company Secretaries, who was appointed as the Scrutinizer for conducting the Postal Ballot process, has submitted his report on the same dated June 8, 2017. Based on the report, we confirm that all the resolutions as contained in the postal ballot notice dated April 28, 2017 were approved by requisite majority of shareholders. The Bank enclose herewith the voting results along with the scrutinizer's report. 
Thanking you,
Yours faithfully,
For The Federal Bank Limited
Girish Kumar G
Company Secretary

M/s. The Federal Bank Limited
 Disclosure under Regulation 44(3) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirement) Regulations, 2015
Details of Voting Results
Sr. No
Particulars
Details
1.
Date of the Postal Ballot
28th April 2017
2.
Total number of shareholders as on record date (cut off date for voting) that is April,28,2017
168881
3.
No. of persons present in the meeting either in person or through proxy
Promoters and 
Promoter Group:
Public:
Not Applicable
Not Applicable
4.
No. of Shareholders attended the meeting through video conferencing
Promoters and 
Promoter Group 
Public:
Not Applicable
Not Applicable
Agenda -wise disclosure (to be disclosed separately for each agenda item: 
As disclosed below.
Whether promoter/promoter group are interested in the agenda/ resolution: 
Not Applicable
Mode of Voting includes both remote e-Voting and through postal ballot form.
Details of Agenda 
Item No. 01: Raising of Capital of the Bank through Issuance of Securities
Resolution required: (Ordinary/ Special)
Special Resolution
Whether promoter/ promoter group are interested in the agenda/resolution
Not Applicable
Category
Mode of Voting
No. of shares held
(1)
No. of Votes Polled
(2)
% of Votes Polled on outstanding shares
(3)=[(2)/(1)]*
100
No. of Votes- 
In favour
(4)
No. of Votes-against
(5)
% of Votes in favour on votes polled
(6)=[(4)/(2)]*
100
% of Votes against on votes polled
(7)=[(5)/(2]*
100
Promoter and 
Promoter Group 
E- Voting
-
-
-
-
-
-
-
Poll
-
-
-
-
-
-
-
Postal Ballot (if applicable)
-
-
-
-
-
-
-
Total 
-
-
-
-
-
-
-
Public Institutions
E- Voting
1,725,293,574
9,82,359,826
56.94
9,79,959,514
2,400,312
99.76
0.24
Poll
NA
NA
NA
NA
NA
NA
NA
Postal Ballot (if applicable)
1,725,293,574
1,001,310
0.06
1,001,310
0
100.00
0.00
Total
1,725,293,574
9,83,361,136
57.00
9,80,960,824
2,400,312
99.76
0.24
Public Non-Institutions
E- Voting
1,725,293,574
1,07,439,083
6.23
1,07,420,031
19,052
99.98
0.02
Poll
NA
NA
NA
NA
NA
NA
NA

Postal Ballot (if applicable)
1,725,293,574
3,580,642
0.21
3,545,586
35,056
99.02
0.98

Total
1,725,293,574
1,11,019,725
6.43
1,10,965,617
54,108
99.95
0.05
Total
1,725,293,574
1,094,380,861
63.43
1,091,926,441
2,454,420
99.78
0.22
Item No.02 : Increasing the ceiling limit on total holdings of FII/FPIs through primary or secondary market route, up to an aggregate limit of 74% of the paid-up share capital of the Bank.
Resolution required: (Ordinary/ Special)
Special Resolution
Whether promoter/ promoter group are interested in the agenda/resolution
Not Applicable
Category
Mode of Voting
No. of shares held
(1)
No. of Votes Polled
(2)
% of Votes Polled on outstanding shares
(3)=[(2)/(1)]*
100
No. of Votes- 
In favour
(4)
No. of Votes-against
(5)
% of Votes in favour on votes polled
(6)=[(4)/(2)]*
100
% of Votes against on votes polled
(7)=[(5)/(2]*
100
Promoter and 
Promoter Group 
E- Voting
-
-
-
-
-
-
-
Poll
-
-
-
-
-
-
-
Postal Ballot (if applicable)
-
-
-
-
-
-
-
Total 
-
-
-
-
-
-
-
Public Institutions
E- Voting
1,725,293,574
982,359,826
56.94
980,550,285
18,09,541
99.82
0.18
Poll
NA
NA
NA
NA
NA
NA
NA
Postal Ballot (if applicable)
1,725,293,574
1,001,310
0.06
1,001,310
0
100.00
0.00
Total
1,725,293,574
983,361,136
57.00
981,551,595
1,809,541
99.82
0.18
Public Non-Institutions
E- Voting
1,725,293,574
107,437,736
6.23
107,401,853
35,883
99.97
0.03
Poll
NA
NA
NA
NA
NA
NA
NA

Postal Ballot (if applicable)
1,725,293,574
3,303,324
0.21
3,114,822
188,502
94.29
5.71

Total
1,725,293,574
110,741,060
6.43
110,516,675
224,385
99.80
0.20
Total
1,725,293,574
1,094,102,196
63.43
1,092,068,270
2,033,926
99.81
0.19

COMBINED SCRUTINIZER REPORT FOR REMOTE E-VOTING AND POSTAL BALLOT FOR THE FEDERAL BANK LIMITED
08.06.2017
To
The Chairman/The Managing Director
The Federal Bank Limited
Federal Towers, P.B.No.103
Alwaye, Ernakulam - 683101
Sub: Passing of Resolution through Remote e-Voting and Postal Ballot of The Federal Bank Limited
I, CS. Sivakumar P., Company Secretary in Practice, holding Membership Number: FCS -3050 and Certificate of Practice Number - 2210, Managing Partner, SVJS & Associates, Company Secretaries, 39/3519 B, 1st Floor, Padmam Apartments, Manikkath Road, Ravipuram, Kochi, Kerala - 682 016 have been appointed as Scrutinizer for the Remote Electronic Voting and Postal Ballot voting process in respect of the under noted resolutions of The Federal Bank Limited (CIN : L65191KL1931PLC000368)
The Company had appointed National Securities Depository Limited (NSDL) as the Service Provider, for extending the facility for the remote electronic voting to the shareholders of the Company from Tuesday, 09th May, 2017, (09.00 A.M.) to Wednesday, 07th June, 2017 (5.00 P.M.). Integrated Registry Management Services Private Limited is the Registrar and Share Transfer Agent of the Company. The remote e-voting results were unblocked by me on 08.06.2017 in the presence of two witnesses. For further details kindly refer my Scrutinizer report dated 08.06.2017 attached herewith. 
The result of the E-voting together with that of the Postal Ballot is as under:
Res. No.
Subject Matter of Resolution
Particulars of Business
Votes in favor of the resolution
Votes against the resolution
No.
%
No.
%
SPECIAL BUSINESS - SPECIAL RESOLUTION
 1
Raising of Capital of the Bank through Issuance of Securities
E Voting
1087379545
99.78
2419364
0.22
Postal Ballot
4546896
99.23%
35056
0.77%
2
Increasing the ceiling limit on total holdings of FII/FPIs through primary or secondary market route,
up to an aggregate limit of 74% of the paid-up share capital of the Bank
E Voting
1087952138
99.83
1845424
0.17
Postal Ballot
4116132
95.62%
188502
4.38%
The Resolutions stand passed under Remote e-Voting and Postal Ballot as Special Resolutions with requisite majority as specified under the Companies Act, 2013.
Thank You 
Yours faithfully
For SVJS & Associates
Company Secretaries
P.Sivakumar
Managing Partner
C.P.2210


08.06.2017
The Chairman/The Managing Director
The Federal Bank Limited
Federal Towers, P.B.No.103
Alwaye, Ernakulam - 683101
Dear Sir
Sub: Scrutinizer's Report
The Board of Directors of the Company has appointed me as Scrutinizer for conducting the postal ballot voting process in respect of the Special Resolutions under Section 62 and 42 of the Companies Act, 2013, relevant provisions of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 and under the provisions of the Foreign Exchange Management Act, 1999 for authorizing the board of directors to make an issue of securities and increasing the ceiling limit on total holdings of FII/FPIs upto an aggregate limit of 74% of the paid up share capital, as stated in the notice sent by the Company to the shareholders.
I note that as per the instructions and conditions attached to the said Postal Ballot, duly completed postal ballots should reach the scrutinizer no later than 05.00 P. M on 07th June, 2017. Postal Ballot forms received after this date are to be strictly treated as if the reply from the member has not been received. The envelopes containing postal ballot form, if deposited in person or sent by courier at the expense of the shareholder will also be accepted. 
Up to 05.00 P.M. on 07th June, 2017 as above, the total number of ballot forms received is as shown below:
 Total number of Postal/Electronic Ballot Forms received : 1352
Covers which contain unfilled Postal Ballot form  : 0___
1352
  
The summarized result of postal ballot forms received up to 05.00 P.M. on 07th June, 2017 is as under:
1. Resolution 1 : Raising of Capital
PARTICULARS
NO. OF POSTAL/ELECTRONIC BALLOT RECEIVED
NO. OF SHARES
% OF VALID VOTES RECEIVED
Total postal/electronic ballots received
1352
4589032
-
Less: Invalid postal ballot forms 
7
7080
-
Net Valid postal/electronic ballot received
1345
4581952
100
Postal/electronic ballot with assent for the Resolution
1329
4546896
99.23%
Postal/electronic ballot with dissent for the Resolution
16
35056
0.77%
2. Resolution 2 : Increasing the ceiling limit on total holdings of FII/FPIs
PARTICULARS
NO. OF POSTAL/ELECTRONIC BALLOT RECEIVED
NO. OF SHARES
% OF VALID VOTES RECEIVED
Total postal/electronic ballots received
1352
4311714
-
Less: Invalid postal ballot forms 
7
7080
-
Net Valid postal/electronic ballot received
1345
4304634
100
Postal/electronic ballot with assent for the Resolution
1301
4116132
95.62%
Postal/electronic ballot with dissent for the Resolution
44
188502
4.38%
I enclose a complete list of Postal Ballot forms received giving the particulars as above. 
Signed on this the 08th Day of June, 2017.
For SVJS & Associates
Company Secretaries
P.Sivakumar
Managing Partner
C.P.2210
ANNEXURE-1
The Chairman/The Managing Director
The Federal Bank Limited
Federal Towers, P.B.No.103
Alwaye, Ernakulam - 683101
Consolidated Details of Postal/Electronic Ballots and votes thereon
Particulars
Resolution No.1

Resolution No.2
No. of ballots
No. of Votes

No. of ballots
No. of Votes
Total filled Postal/Electronic Ballots received
1352
4589032

1352
4311714
Total valid votes
1345
4581952

1345
4304634
Votes in favour of the Resolution
1329
4546896

1301
4116132
Votes against the Resolution
16
35056

44
188502
Total invalid votes
7
7080

7
7080
% of Votes in favour of the Resolution
99.23%

95.62%
Signed on this the 08th Day of June, 2017.
For SVJS & Associates
Company Secretaries
P.Sivakumar
Managing Partner
C.P.2210

08.06.2017
The Chairman/The Managing Director
The Federal Bank Limited
Federal Towers, P.B.No.103
Alwaye, Ernakulam - 683101
Dear Sir
Sub: Report of the Scrutinizer on Remote E- Voting
I, CS. Sivakumar P., Company Secretary in Practice, holding Membership Number : FCS -3050 and Certificate of Practice Number - 2210, Managing Partner, SVJS & Associates, Company Secretaries, 39/3519 B, 1st Floor, Padmam Apartments, Manikkath Road, Ravipuram, Kochi, Kerala - 682 016, have been appointed by the Board of Directors of The Federal Bank Limited (CIN : L65191KL1931PLC000368), Federal Towers, P.B.No.103, Alwaye, Ernakulam - 683101, as the Scrutinizer for the Electronic Voting of the resolutions included in the postal ballot and Remote e voting notice.
As the Scruitinizer, I report that in compliance of the provisions of Rule 20 (4) (vi) of the Companies (Management and Administration) Rules 2014 as amended, the above remote electronic voting remained open to the members from Tuesday, 09th May, 2017, (09.00 A.M.) to Wednesday, 07th June, 2017 (5.00 P.M.).
On completion of the e-voting period, in compliance of the provisions of Rule 20 (4) (viii) and (xii) of the Companies (Management and Administration) Rules 2014, as amended, I have unblocked the votes on 08.06.2017, in the presence of two witnesses, who were not the employees of the Company. The names and signatures of the witnesses appear elsewhere in this Report. 
The following is the summary of E-voting result: 

ASSENT / IN FAVOUR OF
DISSENT / AGAINST
Resol-
ution No.
Subject Matter of Resolution
Total No. of shares through E-voting
No. of Votes through E-voting
% of votes in favour on votes through E-voting
% of Paid Up Capital
No. of Votes through E-voting
% of votes against on votes through E-voting
SPECIAL BUSINESS - SPECIAL RESOLUTION
1
Raising of Capital of the Bank through Issuance of Securities
1089798909
1087379545
99.78
63.02
2419364
0.22
2
Increasing the ceiling limit on total holdings of FII/FPIs through primary or secondary market route,
up to an aggregate limit of 74% of the paid-up share capital of the Bank
1089797562
1087952138
99.83
63.06
1845424
0.17
Thank you
Yours faithfully
For SVJS & Associates
Company Secretaries
P.Sivakumar
Managing Partner
C.P.2210
Witnesses to the unblocking of votes:
1. Nikhil George Pinto
Breeze Cottage
Perumanoor, Cochin - 682015
2. Tracy Caesar
IV/1284 B, Kuruplavu Road
Kochi - 682001

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