Ludlow Jute Alters Articles of Association for Chairman Emeritus

Ludlow Jute & Specialities Ltd announced the passing of a resolution at its 47th Annual General Meeting (AGM) to alter its Articles of Association. The alteration involves the insertion of Article 133, establishing the provision for the 'Appointment of Chairman Emeritus'. This new article allows the Board to appoint individuals who have rendered distinguished services to the company or industry. The Chairman Emeritus will not have voting rights and will not be considered a director for statutory purposes. The Board may decide on remuneration for services rendered.