Alicon Castalloy Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot. Further, the company has informed the Exchange regarding voting results.
ALICON · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Alicon Castalloy Limited has announced the results of a postal ballot conducted via remote e-voting, in which shareholders approved the company's new Employee Stock Option Scheme (ESOS-2026) as a Special Resolution. Out of 58.76 lakh votes polled (35.97% of outstanding shares of 1.63 crore), 45.04 lakh votes (76.65%) were cast in favour and 13.72 lakh votes (23.35%) were cast against the resolution. The ESOS-2026 allows the company to create, offer, and grant up to 3,00,000 stock options to eligible employees (excluding promoters, promoter group, independent directors, and directors holding more than 10% equity), exercisable into equal number of equity shares of Rs. 5 face value each. The scrutinizer, Advocate Avinash V. Joshi, confirmed the voting process was fair and transparent.
The approved ESOS-2026 gives the company flexibility to reward and retain employees through stock options, which could lead to mild dilution of existing shareholders (up to 3 lakh new shares). Short-term stock price impact is likely minimal as the resolution was widely expected and the dilution percentage is small relative to total share base.