Simplex Papers Ltd Announces Director Appointments and Land Disposal Plan
Simplex Papers Ltd held its Board meeting on June 16, 2026, where the board considered and approved several key decisions regarding the company's leadership structure and assets. The outcomes included the appointment of a new director and the re-designation of an existing board member. Furthermore, the board approved the transfer or disposal of land belonging to the company's closed Paper Plant.The Board meeting addressed appointments related to corporate governance. Shri Shrikrushna N. Pawar was appointed as an Additional Director in the category of Non-Executive Independent Director (NEID), effective June 16, 2026. Mr. Pawar holds a Masters's degree in Commerce and is also qualified with an LLB from Amravati University. He possesses experience across marketing, accounts, and administration functions during his professional career.
In a related governance update, Smt Fatima Fernandes was re-designated from Non-Executive Independent Director to Non-Executive Director of the company, effective June 16, 2026. This re-designation involved withdrawing the earlier approval that had been granted for her appointment as a Non-Executive Independent Director in May 2026. Smt Fernandes, who is a Science Graduate in Zoology, has experience in the field of marketing.
Disposal of Closed Paper Plant Land
A significant action approved during the meeting was the sale, transfer, and/or disposal of land associated with the company's closed Paper Plant. The property in question is located at Survey No. 339, Village Konari 18, Taluka and District Gondia-441601 Maharashtra. This transaction remains subject to approval by the shareholders at the ensuing Annual General Meeting.Details regarding the intended land disposal are summarized below:
| Particulars | Details |
|---|---|
| Status of Agreement | No agreement has been entered into with anyone yet. |
| Expected Completion Date | The sale of the land is expected to be completed within one year from the date of shareholder approval. |
| Consideration Received | The Company has not received any consideration as of this date. |
| Buyer Details | Not Applicable, as no agreement has been entered into with anyone yet. |
The board meeting commenced at 3:00 p.m. and concluded at 3:30 p.m.
Stock Price Movement
Simplex Papers Ltd settled at ₹1266.05 on Tuesday, edging higher after the shares gained ₹0.35, marking a 0.03% increase. The stock remained completely locked throughout the trading session as its intraday high and low were identical at ₹1266.05.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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