Protean eGov Technologies Limited has announced the resignation of Mr. Sriram Krishnan (DIN: 07816879) from his position as a Non-Executive Non-Independent Director, effective November 25, 2024. The resignation comes in the wake of NSE Investments Limited divesting its entire equity stake in the company.

This corporate update has been disclosed in compliance with Regulation 30 and other relevant provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring transparency and adherence to regulatory standards. The company has also provided the required details under SEBI Circular SEBI/HO/CFD/CFD-PoD1/P/CIR/2023/123 dated July 13, 2023, as part of its official disclosure.

Key Details of the Resignation:

• Reason for Resignation: The decision was driven by the divestment of NSE Investments Limited's equity stake in Protean eGov Technologies Limited, which rendered Mr. Sriram Krishnan's directorship untenable.
• Effective Date: The resignation is effective from November 25, 2024.
• Additional Notes: No unpublished price-sensitive information (UPSI) was involved in the process, and the company has ensured compliance with all applicable guidelines.

The letter of resignation submitted by Mr. Sriram Krishnan has been enclosed with the company’s communication, along with a detailed disclosure. These documents underline Protean eGov Technologies’ commitment to corporate governance and transparent stakeholder communication.

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This change in the board comes as a significant development in light of NSE Investments Limited’s divestment, marking a shift in the company's ownership structure. The resignation underscores the alignment of governance structures with the evolving corporate landscape of Protean eGov Technologies Limited.

As part of its continued efforts to maintain strong corporate governance, the company will proceed with updates on board composition and shareholder interests. Investors and stakeholders are encouraged to stay informed about similar updates, corporate news, and regulatory announcements.

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