Pursuant to Regulation 30 of the SEBI Listing Regulations, please find enclosed a copy of the postal ballot notice along with the explanatory statement ,seeking approval of the Members of the Company for: 1. Amendments to the Marico Employee Stock Option Plan, 2016 and 2. Provision of money by the Company for purchase of its own shares by the WEOMA Trust for the benefit of Eligible Employees under the Plan.
MARICO · price
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Marico Limited has issued a postal ballot notice seeking shareholder approval for two special resolutions. The first resolution proposes amendments to the Marico Employee Stock Option Plan, 2016, to introduce a cashless exercise mechanism for stock options through the WEOMA Trust (Welfare of Mariconians Trust). The second resolution seeks approval for the company to provide funds to the WEOMA Trust to subscribe to up to 1,62,78,968 equity shares (constituting 1.26% of paid-up capital) to facilitate the cashless exercise framework. Notably, there is no incremental dilution for shareholders as this is within the existing approved ESOP pool. E-voting commenced on May 17, 2025 and ends on June 15, 2025, with results to be declared by June 17, 2025. WEOMA Trust shares will be classified as non-promoter and non-public, and the trustee (IDBI Trusteeship Services Limited) will not exercise voting rights on these shares.
This is a routine ESOP amendment aimed at modernizing the employee stock option exercise process through a widely-used industry mechanism. Shareholders face no additional dilution beyond the already-approved pool, and the changes primarily benefit employees by easing financial outlay for exercising options. The stock price is unlikely to be materially impacted.