Hindusthan National Glass (HNG) shareholders voted with a 100% majority to sell the company’s German subsidiary, HNG Global, at the meeting held on the 24th October.
HNG announced its intention to sell the subsidiary back in September after receiving approval from its board, however the resolution needed to be further approved by shareholders.
Details from the ‘Voting results of the extraordinary General Meeting of the Company’ show that of the 69,291,750 votes cast, 69,291,725 voted in favour of the notion to sell the subsidiary, with only 25 votes against.
As the 25 votes amount to significantly less that 1% of the votes cast, this translates into a 100% majority in favour of passing the resolution.
Votes were cast by both e-vote and ballot.