ITC Limited has informed the Exchange regarding voting results of Postal Ballot by voting through electronic means
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ITC Limited announced that shareholders have approved two special resolutions through postal ballot (e-voting) related to granting Equity Settled Stock Appreciation Rights (ESARs) to eligible employees of the company and its subsidiaries. The record date for eligibility was 14th February, 2025, with about 37.82 lakh shareholders entitled to vote. Both resolutions received overwhelming support, with over 98.7% of votes polled in favour (approximately 82.2% of total outstanding shares participated in voting). Results were declared on 11th April, 2025, following the postal ballot notice dated 6th February, 2025.
The ESAR scheme, once implemented, will allow eligible employees to benefit from stock price appreciation, potentially improving talent retention. There is no direct impact on existing shareholders from this approval, though minor future dilution may occur if the rights are exercised.