Prostarm Info Systems Limited has informed the Exchange about Newspaper Publication - Dispatch of Postal Ballot Notice and E-voting facility to the Members
PROSTARM · price
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Prostarm Info Systems Limited has published a newspaper notice informing shareholders about a postal ballot for three special resolutions. The e-voting period runs from May 27, 2026 (9:00 AM) to June 25, 2026 (5:00 PM). The key resolutions include reallocating Rs 1,248.31 lakhs of unused IPO proceeds originally meant for inorganic growth and acquisitions to funding working capital requirements. Additionally, amendments to the Prostarm Employee Stock Option Plan 2024 (ESOP 2024) for both company employees and subsidiary employees are being proposed. All resolutions require approval through remote e-voting, with the results to be declared by June 30, 2026.
Shareholders should participate in voting as these resolutions involve significant reallocation of IPO funds and changes to employee stock option plans, which could impact the company's capital deployment strategy and employee compensation structure.