Meta Infotech shareholders approve ESOP scheme via postal ballot
Meta Infotech Limited announced that shareholders approved the alteration of its Articles of Association and the ESOP Scheme 2026 via postal ballot. The resolutions, passed with a requisite majority, authorize the issuance of up to 9,44,070 options to Mr. Ambrish Deshpande over five years. The e-voting process, overseen by Scrutinizer Ms. Riddhi Krunal Shah, was conducted from May 7 to June 5, 2026.
*this image is generated using AI for illustrative purposes only.
Meta Infotech Limited announced on June 5, 2026, that its shareholders have approved the alteration of the company's Articles of Association and the new ESOP Scheme 2026 through a postal ballot process. The resolutions were passed with the requisite majority following a remote e-voting period that concluded on June 5, 2026. These approvals allow the company to amend its governance documents and implement a new employee stock option plan, including the issuance of up to 9,44,070 options to Mr. Ambrish Deshpande, COO/CRO, over a period of five years.
The postal ballot was conducted pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and relevant provisions of the Companies Act, 2013. National Securities Depository Limited (NSDL) was appointed to provide the e-voting platform. The remote e-voting period was open from May 7, 2026, at 9:00 a.m. IST to June 5, 2026, at 5:00 p.m. IST. The record date for determining eligibility was May 5, 2026.
Ms. Riddhi Krunal Shah, a Practicing Company Secretary, was appointed as the Scrutinizer to oversee the fairness and transparency of the e-voting process. The Board of Directors had proposed these special business matters at its meeting held on May 4, 2026. The deemed date of passing for the resolutions is June 5, 2026. The company confirmed that the postal ballot was conducted exclusively via e-voting, so there were no physical ballot papers to scrutinize for defacement or mutilation.
Resolutions Passed
The shareholders voted on three key special business matters. The table below details the resolutions that were approved:
| Sr. No. | Description of special business matters | Type of resolution |
|---|---|---|
| 1 | Alteration of the Articles of Association of the Company | Special |
| 2 | Approval of Meta Infotech Limited ESOP Scheme 2026 | Special |
| 3 | Approval of issue of not more than 5% of paid-up share capital as on 31.03.2026 i.e. upto 9,44,070 options under ESOP scheme over the period of 5 years to Mr. Ambrish Deshpande, COO/CRO | Special |
Voting Results
A total of 13,379,941 valid votes were cast via remote e-voting. The detailed voting results for each resolution are as follows:
| Resolution | Votes For | Votes Against | % For | % Against |
|---|---|---|---|---|
| Alteration of Articles of Association | 13,359,941 | 20,000 | 99.8505 | 0.1495 |
| Approval of ESOP Scheme 2026 | 13,347,141 | 32,800 | 99.7549 | 0.2451 |
| Issue of Options to Mr. Ambrish Deshpande | 13,346,341 | 33,600 | 99.7489 | 0.2511 |
Historical Stock Returns for Meta Infotech
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +2.29% | -18.48% | -22.16% | -45.73% | -71.22% | -71.22% |
How will the alteration of the Articles of Association impact future governance and decision-making processes at Meta Infotech Limited?
What specific performance metrics or vesting conditions are attached to the ESOP grants for Mr. Ambrish Deshpande to align with shareholder interests?
Does the approval of the ESOP Scheme 2026 signal plans to expand similar incentive programs to other key executives or employees in the near future?
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