Further to its letter SE/2023-24/28 dated August 8, 2023, intimating about the outcome of Board meeting held today and pursuant to regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, Utkarsh Small Finance Bank has informed that the Board of Directors, subject to the approval of Shareholders and Reserve Bank of India had also approved: A. Alteration of Articles of Association (AOA) to provide for addition of clauses: • to enable Debenture Trustee to appoint nominee director in accordance with SEBI circular SEBI/HO/DDHS/DDHS-RACPOD1/CIR/P/2023/028 dated February 9, 2023 • to restore special rights to shareholders who own 9% or more shares for nominating one director and also giving right to Utkarsh CoreInvest, promoter of the Bank, to nominate one more director in addition to nominee director appointed by shareholders who own 9% or more and B. Deletion of entire Part B of the AOA, which is required to be terminated post the listing of securities and as approved by the shareholders at the EGM held on February 01, 2021. C. Revision of remuneration to be paid to Managing Director & CEO for FY 2023-2024.
The above information is a part of company’s filings submitted to BSE.
