Ashapura Minechem Limited has informed the Exchange regarding Notice of Postal Ballot
ASHAPURMIN · price
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Ashapura Minechem Limited has dispatched a Postal Ballot notice to shareholders seeking approval for five special resolutions through remote e-voting. The key proposals are: (1) adoption of 'ESOP 2026' allowing grant of stock options convertible into up to 20,00,000 (twenty lakh) equity shares of face value Rs. 2 each to eligible employees; (2) extension of the same ESOP to employees of holding, subsidiary, associate and group companies, within the cumulative ceiling of 20 lakh shares; (3) re-appointment of Shri Hemul Shah (DIN: 00058558) as Executive Director & CEO for a further 2 years from 16 February 2026 to 15 February 2028; and (4) & (5) regularization of Shri Jagdish Shetty and Shri Wilson Mathais as Non-Executive Independent Directors for a term of 5 years from 5 February 2026. The cut-off date is 24 March 2026, e-voting runs from 29 March 2026 (9:00 AM) to 27 April 2026 (5:00 PM), and results will be announced on or before 27 April 2026.
The ESOP 2026 plan can result in equity dilution of up to 20 lakh shares (face value Rs. 2 each) over time, though grants are at the Board's discretion. The re-appointment of the CEO and induction of two new independent directors signal governance continuity. Shareholders should evaluate the proposals and cast their e-vote before 27 April 2026.