Chalet Hotels has published newspaper advertisements for its postal ballot notice seeking shareholder approval for strategic leadership appointments and the ₹171.00 crore Udaipur resort acquisition, fulfilling regulatory compliance requirements.

Regulatory Compliance Update

The company has formally published postal ballot advertisements in leading newspapers on January 1, 2026, pursuant to Regulation 47 of the SEBI Listing Regulations. The advertisements appeared in Financial Express, Free Press Journal, and Navshakti, ensuring wide public dissemination of the voting process.

E-Voting Process Timeline

Shareholders can participate in the electronic voting process for three special resolutions covering key leadership appointments and remuneration approvals. The voting timeline provides a 30-day window for member participation.

Key Resolutions for Approval

The postal ballot seeks member consent for three critical business decisions that will shape the company's leadership structure and strategic direction. These resolutions address both immediate leadership transitions and long-term governance frameworks.

Resolution 1: Managing Director Appointment

Shwetank Singh's appointment as Managing Director and CEO represents a significant leadership transition, bringing 26 years of industry experience to the role.

Resolution 2: Non-Executive Director Transition

Dr. Sanjay Sethi will transition from his role as Managing Director and CEO to Non-Independent Non-Executive Director, ensuring continuity of leadership expertise.

Resolution 3: Director Remuneration Framework

The third resolution establishes a commission-based remuneration structure for Non-Executive Directors, providing a systematic approach to director compensation.

Udaipur Acquisition Details

The board has approved the acquisition of a resort property in Udaipur, Rajasthan, featuring approximately 150 rooms for ₹171.00 crore, subject to due diligence completion and net asset adjustments.

The company has engaged M/s. MMJB & Associates LLP as scrutinizers for the postal ballot process, ensuring transparent and compliant voting procedures. Both proposed appointees are not related to existing Directors, KMPs, or Promoters and are not debarred by SEBI or other regulatory authorities.

Chalet Hotels Limited has completed the allotment of 14,000 equity shares to eligible employees under its Employee Stock Option Plan 2022, as approved by the Compensation, Nomination and Remuneration Committee on December 10, 2025.

Share Allotment Details

The company allotted 14,000 fully paid-up equity shares with a face value of ₹10.00 each to eligible employees under the CHL Employee Stock Option Plan 2022. These newly issued shares carry distinctive numbers ranging from 218739433 to 218753432 and rank pari-passu with the existing equity shares of the company.

Revised Share Capital Structure

Following the allotment, Chalet Hotels' paid-up equity share capital has increased from the previous level. The revised capital structure shows a marginal increase in the total number of outstanding shares.

ESOP 2022 Plan Overview

The CHL Employee Stock Option Plan 2022 covers a total of 12,17,831 equity shares, with each stock option convertible into one equity share of face value ₹10.00. The exercise price is determined based on the average closing share price of the last 30 trading days as of the plan's approval date by the Compensation, Nomination and Remuneration Committee on April 20, 2022.

Key ESOP Statistics

Plan Terms and Administration

The ESOP 2022 is designed exclusively for eligible employees as defined under the plan. Vesting of options is subject to continued employment with the company, and the committee may specify additional performance criteria for vesting. The plan is administered by the Compensation, Nomination and Remuneration Committee and complies with SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021.

The diluted earnings per share following this exercise stands at ₹17.00 on a standalone basis and ₹16.35 on a consolidated basis. The company has filed the necessary regulatory disclosures with both the National Stock Exchange of India Limited and BSE Limited in compliance with listing regulations.