Updater Services Limited has informed the Exchange regarding Proceedings of Postal Ballot
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Updater Services Limited announced the results of its postal ballot conducted via e-voting, which closed on April 24, 2025. All three special resolutions were approved by shareholders with roughly 85.70% votes in favor and 14.30% against. The first resolution allows the company to increase its Section 186 lending, guarantee, and investment limit up to Rs. 1,000 Crores. The second resolution extends the ESOP 2019 plan to cover employees of group, subsidiary, associate, and holding companies, covering up to 9,70,074 stock options. The third resolution extends the ESOP 2022 plan to the same set of employees, covering the remaining 18,50,000 stock options in the pool.
Shareholders have given the company a much higher headroom (Rs. 1,000 Crores) for loans, guarantees, and investments, which could mean more capital deployment or subsidiary support ahead. The ESOP extensions broaden stock option eligibility across the wider group, potentially resulting in modest future share dilution but helping attract and retain talent across subsidiaries.