Zaggle Prepaid Ocean Services Limited has informed the Exchange regarding Proceedings of Postal Ballot. Further, the company has submitted the Exchange a copy of Srutinizers report along with voting results.
ZAGGLE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Zaggle Prepaid Ocean Services Limited concluded a postal ballot conducted via remote e-voting from March 3, 2026 to April 1, 2026. Two special resolutions were put to vote, both related to the Zaggle Employee Stock Option Scheme 2022: (1) extending ESOP benefits to employees of subsidiary and associate companies, and (2) granting stock options to employees of these entities, including those outside India. Out of 134,458,445 outstanding shares, 80,311,650 votes were polled (59.73% participation). Both resolutions passed with 89.51% votes in favor, with the promoter group voting 100% in favor. Notably, public institutional investors voted 59.91% against the resolutions, while public non-institutional shareholders voted 99.88% in favor.
The approval allows Zaggle to expand its ESOP 2022 scheme to cover employees across its subsidiaries and associate companies, which could lead to some dilution of existing shareholders but is intended to attract and retain talent. The strong opposition from institutional investors (nearly 60% against) signals some governance concerns worth monitoring, though the resolutions passed comfortably.