Please find enclosed intimation of Postal Ballot Notice dated May 4, 2026.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Meta Infotech Limited has issued a Postal Ballot Notice dated May 4, 2026 seeking shareholder approval via remote e-voting (May 7 – June 5, 2026) for three special resolutions. Item 1 proposes altering the Articles of Association to insert Clause 41 enabling ESOP issuances under the Companies Act. Item 2 seeks approval for the Meta Infotech Limited ESOP Scheme 2026, permitting grant of up to 18,88,140 stock options (exercisable at Rs. 10 face value each) to eligible employees over the scheme's lifetime. Item 3 specifically approves granting up to 9,44,070 options (5% of paid-up capital as of March 31, 2026) to Mr. Ambrish Deshpande, COO/CRO, to be vested over a 5-year period. The total ESOP pool represents significant potential dilution. Results will be declared by June 6, 2026.
Approval enables the company to attract and retain talent through equity-based compensation, aligning employee and management interests with shareholders. However, the large ESOP pool (up to 18.88 lakh options) and the specific grant to the COO/CRO (9.44 lakh options) will cause share dilution for existing shareholders. The related-party nature of the COO/CRO grant requires careful scrutiny from minority investors.