Punjab & Sind Bank : Proceedings and Outcome of EGM

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H.O. Account & Audit Department

"SHARES CELL" Bank House, 1st Floor 21, Rajendra Place, New Delhi-110008

Phone : [phone], Telefax : 25781639, 15728919, Email :[e-mail]

ffl/Ref.No.

�/Dated: ..... ....... ......... .....

March 31, 2022

BSE Limited,

Derartment of Corporate Services,

Dalal Street, Fort,

251 floor, Phiroze Jeejeebhoy Towers,

Exchange Plaza, C - I, Block - G, Bandra Kurla Complex, Sandra (East),

National Stock Exchange of India Ltd.,

Mumbai-400 001.

Mumbai - 400 051.

SYMBOL: PSB SERIES: EQ

SCRIP ID : PSB

SCRIP CODE : 533295

Dear Sir,

Reg: Extra Ordinary General Meeting held on 31.03.2022; Clause 44 (3) of SEBI (LODR)

Regulations, 2015

This is rther to our communication dated 09.03.2022. The following agenda item was approved by the shareholders by e-voting from 26.03.2022 (10.00 a.m) to 30.03.2022 (5.00 p.m) & during the EGM, om 11:15 a.m to 12:00 noon in the Extra Ordinary General Meeting held on 31.03.2022:

I. To create, offer, issue and allot 2,72,51,18,483 (Two Hundred and Seventy Two Crore Fiſty One Lakh Eighteen Thousand Four Hundred and Eighty Three only) equity shares of Rs. 10 each r cash at an issue price of Rs.16.88 per equity share (including premium of Rs.6.88 per equity share) aggregating to Rs.4600 crore (Rupees Four Thousand Six Hundred crore only) on preferential basis to Government of India

We are rwarding the llowing documents in respect of the meeting:

Voting results as per Regulation 44 (3) of SEBI (LODR) Regulations, 2015, consolidated report r e-voting & E-voting during EGM.

Proceedings of the Extra Ordinary General Meeting

We request you to take on record the above.

Yours ithfully,

i�c�

rnpany Secretary

[Saket Mehrotra]

Punjab & Sind Bank

Voting Result of the EGM of the Bank held on March 31, 2022

Date of EGM

Total number of shareholders on record date

I

I

No. of shareholders present in the meeting either in person or through proxy

a) Promoters and Promoter group b) Public

I

31-03-2022 133017

NA

No. of shareholders attended the meeting through video conferencing

a) Promoters and Promoter group

b) Public

I

1 14

Resolution required: (Ordinary/ Special)

Special

Description of resolution considered

To create, offer, issue and allot 2,72,51,18,483 (Two Hundred and Seventy Two Crore Fifty One Lakh Eighteen Thousand Four Hundred and Eighty Three only) equity shares of Rs. 10 each for cash at an issue price of Rs.16.88 per equity share (including premium of Rs:6.88 per equity shar-e) aggregating to Rs.4600 crore (Rupees Four Thousand Six Hundred crore only) on preferential basis to overnment of India

Category

Mode of votingNo. of shares held

(1)

No. of votes polled

(2)

% of Votes polled on outstanding shares (3)=((2)/(1)]*100

No. of votes - in favour

Total

Promoter and Promoter GroupE-Voting Poll

Postal Ballot (if applicable)

3933932610

100.0000

0

0.0000

3933932610

0

0.0000

(4)

3933932610

0

0

Total E-Voting Poll

Public- Institutions

Postal Ballot (if applicable)

Public- Non Institutions

Total E-Voting Poll

Postal Ballot (if applicable)

3933932610

3933932610 42458446 0

100.0000 97.3052 0.0000

3933932610 42458446 0

43634299

0

0.0000

0

43634299

42458446

97.3052 0.1149

42458446

Total

Total

4052667964

75101055

75101055

3976477340

86284

86284

0

0

98.1200

0.1149

0.0000

0.0000

3976466608

75552

75552

0

0

No. of votes -	% of votes in favour	% of Votes against on
against	on votes polled	votes polled
(5)	(6)=((4)/(2)1*100	(7)=((5)/(2)]*100
100.0000	0.0000
0.0000	0.0000
0.0000	0.0000
100.0000	0.0000
100.0000	0.0000
0.0000	0.0000
0.0000	0.0000
100.0000	0.0000
87.5620	12.4380
0.0000	0.0000
0.0000	0.0000
87.5620	12.4380
99.9997	0.0003

0

0

0

0

0 0 0

0

0 10732

0

10732

10732

PROCEEDINGS OF THE EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS OF PUNJAB & SINO BANK HELD ON THURSDAY, THE 318T MARCH, 2022 AT 11.00 A.M. THROUGH VIDEO CONFERENCING AT PUNJAB & SIND BANK, HEAD OFFICE, 21, RAJENDRA PLACE NEW DELHI-110 008.

PRESENT:

1.	Sh. S Krishnan	Managing Director &CEO
2.	Sh. Kollegal V Raghavendra	Executive Director
3.	Dr. Ramjass Yadav	Executive Director
4.	Sh K P Patnaik	Director	Through VC
5.	Sh T. R. Mendiratta	Director	Through VC
6.	Sh Shankar Lal Agarwal	Director	Through VC

15 Shareholders attended the Extraordinary General Meeting through Video Conferencing.

1. Sh.Pankaj Dwivedi - Board Secretary & General Manager, welcomed the shareholders at the Extraordinary General Meeting of shareholders of the Bank and requested the Chairman of the meeting to address the Shareholders and thereafter to take up Agenda items.

2. Sh. S Krishnan - Managing Director & CEO of the Bank, presided over the

Meeting in terms of the Regulation 59 of Punjab & Sind Bank (Shares & Meetings) Regulations, 2008 (Chairman of the Meeting).

3. The Chairman of the Meeting welcomed the Shareholders Pursuant to

Regulation 59 of the Punjab & Sind Bank (Shares and Meetings) Regulations, 2008, he, in consultation with Company Secretary of the Bank announced that the necessary quorum was present and accordingly declared that the meeting was in order.

4. The Chairman of the meeting informed that the Bank had published Notice seeking email ids of Shareholders whose email ids were not registered either with the Bank or with the Depositories in Financial Express (English Newspaper) and Jansatta (Hindi Newspaper) on 03rd March 2022.

5. The Chairman of the meeting further informed that another notice was published in Financial Express (English Newspaper) and Jansatta (Hindi

Newspaper) intimating the mailing of notices and the e-voting instructions on 10th March 2022. The Notice of this Meeting has been hosted on the website of the Bank, Websites of NSE, BSE and CDSL. With the permission of the shareholders present, the notice was taken as read.

6. The Chairman of the Meeting then addressed the shareholders and apprised the shareholders on the Capital Infusion by Government of India.

7. The Chairman of the meeting then moved the special resolution as per the notice of the EGM:

Agenda Item No.1: To create, offer, issue and allot 2,72,51,18,483 (Two Hundred and Seventy Two Crore Fifty One Lakh Eighteen Thousand Four Hundred and Eighty Three only) equity shares of Rs. 10 each for cash at an issue price of Rs.16.88 per equity share (including premium of Rs.6.88 per equity share) aggregating to Rs.4600 crore (Rupees Four Thousand Six Hundred crore only) on preferential basis to Government of India.

8. The Chairman of the Meeting informed that in terms of Regulation 44 of the

SEBI (Listing Obligation & Disclosure Requirements) Regulations, 2015 with Rule 20 of Companies (Management and Administration) Rules, 2014 as amended, the Bank had provided e-voting facility to the shareholders, through Central Depository Services (India) Limited (CDSL) from 10.00 a.m. on 26th March 2022 to 5.00 p.m. on 30th March 2022.

9. The Chairman of the Meeting informed that the Bank has appointed M/s S N

Ananthasubramanian & Co, Company Secretaries, as Scrutinizer to oversee the remote e-voting and the e-voting process.

10.The Chairman then invited participation of the shareholders on the agenda items as contained in the Notice of this meeting.

11. The Chairman then informed that the Bank was in receipt of requests from 4 shareholders to speak at the meeting. All the 4 shareholders joined the meeting, and the Chairman responded to their queries to the satisfaction of the house. However, one shareholder viz. Sh Ankur Chanda did not respond. He also did not answer even when contacted on his mobile. After waiting for sufficient time, the Chairman announced in the meeting that he may send his queries / suggestions / comments through e-mail, which would be suitably answered.

12.The Chairman requested the shareholders who had not cast their votes to vote on the agenda items and informed that the voting will close after 15 minutes of the conclusion of the Meeting

13. He then announced the conclusion of the Meeting.

14.Based on the consolidated report, the following agenda item was declared as passed with Requisite Majority:

Agenda Item No.1:

To create, offer, issue and allot 2,72,51,18,483 (Two Hundred and Seventy Two Crore Fifty One Lakh Eighteen Thousand Four Hundred and Eighty Three only) equity shares of Rs. 10 each for cash at an issue price of Rs.16.88 per equity share (including premium of Rs.6.88 per equity share) aggregating to Rs.4600 crore (Rupees Four Thousand Six Hundred crore only) on preferential basis to Government of India - Special Resolution

"RESOLVED THAT pursuant to the provisions of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 and Punjab & Sind Bank (Shares and Meetings) Regulations, 2008 and subject to the approvals, consents, sanctions, if any, of Reserve bank of India (RBI), Government of India (GOI), Securities and Exchange Board of India (SEBI), and/ or any other authority as may be required in this regard and subject to such terms, conditions and modifications thereto as may be prescribed by them in granting such approvals and which may be agreed to by the Board of Directors of the Bank and subject to SEBI (Issue of Capital & Disclosure Requirements) Regulations, 2018 [SEBI (ICDR) Regulations], Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015 and regulations as may be prescribed by RBI and other relevant authorities from time to time and subject to the Listing Agreements entered into with the Stock Exchanges where the equity shares of the Bank are listed, consent of the shareholders of the Bank be and is hereby accorded to the Board of Directors of the Bank (hereinafter called "the Board" which shall be deemed to include any Committee which the Board may have constituted or hereafter constitute, to exercise its powers including the powers conferred by this Resolution) to create, offer, issue and allot upto 2,72,51,18,483 equity shares of Rs.10/- each (Rupees Ten only) for cash at Rs.16.88 per equity share including premium of Rs.6.88 per equity share as determined on the basis of the valuation report dated 02.03.2022 provided by Sh Yashlok Dubey, Independent Registered Valuer (Registered Valuer No.lBBI/RV/03/2019/11087) in accordance with Regulation 165 of SEBI ICDR Regulations aggregating upto Rs.4600 crore on preferential basis to Government of India (President of India)."