Texmaco Rail & Engineering Limited has informed the Exchange regarding 'Clarification To Institutional Investor Advisory Services (IiAS) Voting Recommendation - Texmaco Rail & Engineering Ltd. - Postal Ballot'.
TEXRAIL · price
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Texmaco Rail has responded to concerns raised by proxy advisor IiAS regarding their Long Term Incentive Plan (LTIP) Scheme 2026, which is being voted on via postal ballot. The company defended its performance-based vesting framework using metrics including EBITDA margin (30%), EPS (25%), ROCE (30%), and Operating Cash Flow (15%). No shares vest unless 85% of targets are achieved, with vesting based on 3-year average performance. The company declined to disclose specific target thresholds, citing competitive sensitivity, but committed to disclosing achievement levels in its Annual Report post-vesting. Texmaco has requested IiAS to reconsider its recommendation and revise it positively.
The stock may see short-term pressure if shareholders side with the proxy advisor's concerns over lack of target transparency, but the performance-based vesting conditions and disclosure commitments could reassure investors. This is essentially a governance matter with limited direct impact on fundamentals.