S.P. Apparels Limited has successfully completed its postal ballot process, with shareholders approving two important special resolutions through remote e-voting. The company declared the voting results on March 23, 2026, following the conclusion of the e-voting period on March 21, 2026.

Postal Ballot Process Overview

The postal ballot notice was issued on February 11, 2026, with the cut-off date for determining eligible shareholders set as February 13, 2026. The company had 17,054 shareholders as of the cut-off date. The remote e-voting period remained open from February 20, 2026, at 9:00 AM to March 21, 2026, at 5:00 PM.

Resolution 1: Executive Director Re-appointment

The first special resolution concerned the re-appointment and remuneration of Mrs. S. Latha (DIN: 00003388) as Whole-Time Director designated as Executive Director of the company. This resolution received overwhelming shareholder support with 95.92% votes in favour.

Resolution 2: Loan Guarantee Authorization

The second special resolution sought approval for advancing loans, providing guarantees, or offering security in connection with loans availed by persons specified under Section 185 of the Companies Act, 2013. This resolution also passed with substantial majority support, securing 82.93% votes in favour.

Scrutinizer Report and Compliance

Mr. M.D. Selvaraj, FCS, Managing Partner of MDS & Associates LLP, Company Secretaries, Coimbatore, served as the appointed scrutinizer for the postal ballot process. The scrutinizer confirmed that both resolutions were passed with the requisite majority in compliance with the Companies Act, 2013, and SEBI regulations.

The voting process was conducted in accordance with:

• Sections 108 and 110 of the Companies Act, 2013
• Companies (Management and Administration) Rules, 2014
• Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
• MCA General Circular No. 3/2025 dated September 22, 2025

The company utilized the services of MUFG Intime India Private Limited as the authorized agency for providing remote e-voting facilities. Both resolutions are deemed to have been passed on March 21, 2026, the last day of the remote e-voting period. The company has submitted the scrutinizer report and voting results to both BSE and NSE as per regulatory requirements under Regulation 30 & 44 of SEBI listing regulations.

SP Apparels Limited has announced the allotment of 46,283 equity shares under its Employee Stock Option Plan 2024, marking a significant milestone in the company's employee incentive program. The allotment was approved by the Nomination Remuneration Committee during their meeting held on March 2, 2026.

Share Allotment Details

The company has allotted fully paid-up equity shares with specific pricing parameters that reflect the current market conditions and employee benefit structure.

Updated Share Capital Structure

Following this allotment, SP Apparels' share capital structure has been updated to reflect the increased equity base.

ESOP Plan Framework

The allotment was conducted under the SPAL Employee Stock Option Plan 2024, which operates in accordance with SEBI regulations. The plan includes specific vesting and exercise provisions designed to align employee interests with company performance.

Regulatory Compliance

The company has fulfilled all regulatory requirements under the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulation, 2015. The necessary filings were completed with both BSE Limited and National Stock Exchange of India Limited, where the company's shares are listed.

The Committee Meeting commenced at 4:15 PM and concluded at 4:50 PM on March 2, 2026, ensuring proper governance procedures were followed throughout the allotment process.