SG Mart Limited: Members Approve Amendments to Employee Stock Option Scheme
SG Mart Limited members approved two special resolutions via postal ballot and remote e-voting. The resolutions concern amendments to the Employee Stock Option Scheme 2023 and extending its benefits to subsidiary/associate company employees. Both resolutions passed with approximately 97.19% of votes in favour.
Approval of the Employee Stock Option Scheme amendments and extension to subsidiaries can impact employee motivation and retention, potentially influencing future performance. The direct financial impact is not immediately quantifiable but is strategic in nature.
The members of the company have approved the proposed resolutions with a significant majority, indicating shareholder confidence and support for the company's employee stock option scheme.
SG Mart Limited (formerly Kintech Renewables Limited) has announced the results of its postal ballot, indicating that its members have approved two special resolutions with the requisite majority. The resolutions were voted upon through the postal ballot mechanism and remote e-voting.
The first resolution pertains to approving amendments in the SG Mart Limited Employees Stock Option Scheme 2023 (formerly Kintech Renewables Limited Employees Stock Option Scheme 2023). The second resolution concerns approving the extension of benefits under the amended SG Mart Limited Employees Stock Option Scheme 2023 to employees of its subsidiary or associate companies in India or outside India.
The postal ballot notice was dispatched on March 25, 2026. The remote e-voting facility commenced on March 26, 2026, at 09:00 AM IST and concluded on April 24, 2026, at 05:00 PM IST. The record date for determining eligible shareholders was March 20, 2026. The company reported that 76,210,239 votes were polled, with 74,067,112 votes (approximately 97.19%) in favour and 2,143,127 votes (approximately 2.81%) against both resolutions.
The Scrutinizer's Report, dated April 25, 2026, confirms that both special resolutions have been passed as proposed. The results and the scrutinizer's report are also available on the company's website.
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