Quess Corp Limited has informed the Exchange regarding Notice of Postal Ballot
QUESS · price
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Quess Corp has sent shareholders a Postal Ballot Notice covering five items for approval via remote e-voting. The first four items relate to employee stock plans: amending the existing Quess Stock Ownership Plan 2020 (reducing it to 18.27 lakh RSUs by re-deploying 18.23 lakh ungranted RSUs) and introducing a new Quess Stock Ownership Plan 2026 (QSOP 2026) covering up to 52.5 lakh equity shares, or about 3.52% of paid-up capital, for eligible employees and those of subsidiaries and associate companies, to be implemented through an Employees Welfare Trust. The fifth item seeks approval to appoint Mr. Lohit Bhatia (DIN: 07980280) as Whole-time Director designated as Executive Director and Group CEO for three years effective June 1, 2026. E-voting begins on April 9, 2026 at 9:00 AM and ends on May 8, 2026 at 5:00 PM, with the cut-off date for eligibility set as April 3, 2026 and results to be declared on or before May 12, 2026. CDSL has been engaged to provide the e-voting facility.
The QSOP 2026, if approved, could dilute existing shareholders' equity by up to around 3.5% over time, which investors should factor in. The proposed appointment of a new Group CEO indicates a leadership transition at the company. Shareholders should cast their votes through remote e-voting before May 8, 2026 to have their say on these proposals.