Mangalam Global Enterprise Limited has informed the Exchange regarding Proceedings of Postal Ballot.
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Mangalam Global Enterprise Limited (MGEL) has announced the results of its postal ballot conducted between January 22, 2026 and February 20, 2026. Two special resolutions were passed by shareholders through remote e-voting. The first resolution approves the implementation of the 'Employee Stock Option Plan 2026' (ESOP 2026) for eligible employees of the company. The second resolution approves the grant of stock options under ESOP 2026 to employees of the company's wholly owned subsidiaries and subsidiary companies. The scrutinizer, Mr. Chirag Shah of M/s Chirag Shah & Associates, submitted the report on February 21, 2026, confirming both resolutions were approved as Special Resolutions under Section 114(2) of the Companies Act, 2013.
The approval of ESOP 2026 allows the company to issue stock options to employees, which could lead to some dilution of existing shareholders' equity over time. However, it also serves as a tool to attract and retain talent, aligning employee interests with shareholders.