Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed a copy of the Postal Ballot Notice along with the explanatory ....
Awaiting price reaction for this filing.
Marico Limited has issued a Postal Ballot Notice seeking shareholder approval through e-voting (May 17 to June 15, 2025) for two special resolutions. The first proposes amendments to the Marico Employee Stock Option Plan 2016 to introduce a cashless exercise mechanism for stock options through the WEOMA Trust, an irrevocable employee welfare trust. The second seeks approval for the company to provide funds (loan/guarantee) to the WEOMA Trust to subscribe to up to 1,62,78,968 equity shares (1.26% of paid-up capital) to facilitate the cashless exercise. The company clarifies there is no incremental dilution beyond existing approved ESOP limits. WEOMA Trust shares will be classified as non-promoter and non-public, with trustees barred from voting.
Shareholders need to vote on these resolutions by June 15, 2025. The changes are administrative in nature — making it easier for employees to exercise ESOPs without upfront cash — and do not increase overall dilution or alter the existing ESOP pool. Minimal direct impact on share price expected; routine governance item.