The Scrutinizer''s Report on the Postal Ballot conduted through remote e-voting process
SHADOWFAX · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Shadowfax Technologies Ltd successfully completed a postal ballot through remote e-voting for two special resolutions related to their Employee Stock Option Plan (ESOP 2016). The first resolution amended and ratified the SFX ESOP 2016, while the second extended ESOP benefits to employees of subsidiary companies. Both resolutions passed with 88.48% shareholder approval (approximately 358.5 million votes in favour) out of 405.2 million votes polled, representing 69.7% of total outstanding shares. Promoters voted 100% in favour for both resolutions. Public institutions showed mixed sentiment with about 69% voting in favour and 31% against for the ESOP amendment.
Shareholders approved ESOP expansion to include subsidiary employees and ESOP modifications. The significant institutional opposition (31%) may indicate some shareholder concern about dilution, but the resolutions passed comfortably with overwhelming promoter and overall majority support.