Sundrop Brands Limited has informed the Exchange regarding Notice of Postal Ballot
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Sundrop Brands Limited (formerly Agro Tech Foods Limited) has issued a Postal Ballot Notice seeking shareholder approval for a Special Resolution. The resolution seeks consent to grant employee stock options under the existing 'ATFOODS ESOP 2024' plan to Mr. Nitish Bajaj, Group Managing Director, in a quantity equal to or exceeding 1% of the company's issued capital. The underlying ESOP plan was already approved by shareholders on April 27, 2025; this separate vote is required because granting options above the 1% threshold to a single executive requires a specific special resolution under SEBI's SBEB Regulations. Voting will be conducted entirely via remote e-voting from June 7, 2025 (9:00 AM) to July 6, 2025 (5:00 PM), with results expected by July 8, 2025. The cut-off date to be eligible to vote is May 30, 2025.
If approved, this will enable a sizeable stock option grant to the Group MD, aligning his interests with long-term shareholder value but potentially resulting in equity dilution when options are exercised. Shareholders should review the grant size relative to issued capital and assess the broader ESOP 2024 plan terms before voting.