Scrutinizer Report of the Extra- Ordinary General Meeting
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Flomic Global Logistics held an Extra-Ordinary General Meeting on 25th July 2025 via video conferencing from 12:30 PM to 12:48 PM, attended by 79 members out of 6,318 total shareholders. The only business item was a Special Resolution to alter the Articles of Association to enable the issuance of shares under an Employee Stock Option Plan (ESOP). Out of 1,81,68,360 total outstanding shares, 1,45,41,723 shares (80.04%) were polled, with 87.19% voting in favour (1,26,79,320 votes) and 12.81% voting against (18,62,403 votes). Promoter group participation was 99.73% with 85.14% voting in favour, while public non-institutions voted 99.9998% in favour. The resolution was declared passed with requisite majority, and no invalid votes were recorded.
Shareholders have cleared the way for the company to introduce an ESOP scheme, which could lead to equity dilution in the future when stock options are granted and exercised. For existing shareholders, this is a preparatory step — no shares are issued now, but the company gains flexibility to attract and retain talent through equity-based compensation, aligning employee interests with long-term shareholder value.