Vintage Coffee Board Approves Auditor Change, ESOPs, and Preferential Issue
Vintage Coffee approved a change in registered office and appointed new statutory auditors. The Board also approved increased remuneration and re-appointment for its Chairman & MD, Mr. Balakrishna Tati, and increased remuneration for Whole-time Director Mr. Sai Teja Tati. An ESOP scheme and a preferential issue of warrants were also approved.
The changes in auditors and management remuneration, along with the approval of an ESOP scheme and a preferential issue, are significant corporate actions that can impact the company's governance, employee motivation, and capital structure. The change in registered office is less impactful.
The announcement details several positive developments for the company, including auditor changes, reappointment of key management, increased remuneration, and plans for employee stock options and a preferential issue, all of which suggest forward-looking strategic actions.
Vintage Coffee And Beverages Limited announced a series of significant decisions following its Board of Directors meeting held on September 4, 2026. The company approved the change of its registered office from Secunderabad to Gachibowli, Hyderabad, effective the same day.
The Board also appointed M/s. Sreedar Mohan & Associates as the new Statutory Auditors for a two-year term, pending shareholder approval at the upcoming Annual General Meeting (AGM). Mr. Balakrishna Tati's remuneration as Chairman and Managing Director was increased to ₹30,00,000 per month plus a 3.5% net profit commission, and he was re-appointed for a five-year term starting July 16, 2027, also subject to shareholder consent.
Furthermore, the remuneration for Mr. Sai Teja Tati, Whole-time Director, was revised to ₹10,00,000 per month plus a 1% net profit commission. The company also approved the formulation of the 'VCBL Employee Stock Options Scheme 2026', allowing for the grant of up to 30,00,000 options to eligible employees. This plan complies with SEBI regulations and requires shareholder approval.
In addition, the Board approved a preferential allotment of up to 42,00,000 convertible warrants at ₹164 per warrant to the Promoter/Promoter Group. The objects of a previously announced Preferential Issue were modified. The 46th AGM for FY 2025-26 is scheduled for September 30, 2026, and the book closure for dividend and AGM will be from September 24 to September 30, 2026.
A plain-language summary of a public exchange filing by Vintage Coffee And Beverages Limited. Read the original for the full detail.
