Scrutinizer Report along with Voting Results for the Resolutions set out in Notice of Postal Ballot dated March 31, 2025 is attached herewith.
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Rose Merc Limited announced voting results of a Postal Ballot (notice dated March 31, 2025) conducted through remote e-voting, which closed on May 5, 2025. All 5 special resolutions were approved by shareholders with near-unanimous support (over 99.99% in favour, only 1 dissenting vote in each case). Each resolution pertains to approving the grant of stock options to identified employees during FY2025-2026, exceeding 1% of the company's issued share capital. Shareholder turnout ranged from 30.4% to 40.7% across the five resolutions, with promoters not voting on any of the resolutions. The scrutinizer, CS Deepak Rane, has certified the voting process as fair and transparent.
The approval clears the way for the company to grant stock options exceeding the 1% threshold of issued capital to identified employees in FY2025-2026, which is positive for talent retention but may result in dilution for existing shareholders. The overwhelming approval (essentially no opposition) suggests broad shareholder consensus on the management's employee incentive plans, indicating no governance concerns from this vote.