Travel Food Services Limited has submitted the Exchange a copy Result and Scrutinizer's report of Postal Ballot
TRAVELFOOD · price
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Travel Food Services Limited has announced the results of its Postal Ballot, with all three special resolutions passed by shareholders. The resolutions were: (1) alteration of the Articles of Association (95.65% in favour), (2) ratification of the Employee Stock Option Plan (96.21% in favour), and (3) extension of ESOP benefits to employees of group/subsidiary/associate companies (96.21% in favour). A total of 94.05% of outstanding shares participated in the remote e-voting, which ran from August 26 to September 24, 2025. Promoters (holding ~86.2% of shares) voted 100% in favour of all resolutions. Notably, public institutional investors showed meaningful dissent on the Articles of Association alteration, with 52.17% voting against it.
All resolutions were approved with comfortable majorities, so the ESOP plan is now formally ratified and the Articles changes are in effect. The significant institutional opposition to the AOA amendment (52% against) is worth watching, as it may indicate concerns about governance changes that could dilute minority shareholder rights.