Overview
As a special resolution, the Employee Stock Option Scheme needed at least 75% of the vote to pass. According to the filing, only 63.8% of the votes cast were in favor of the motion, with 36.19% voting against it.
According to a regulatory filing by the firm, Ipca Laboratories’ shareholders have rejected a special resolution to give stock options to qualifying workers, key management personnel (KMP), and its whole-time directors.
The business requested approval for three special resolutions on February 14, 2024, through a notice of postal ballot.
These resolutions included the consideration and approval of the Ipca Laboratories Ltd Employees Stock Option Scheme 2024, which would grant stock options to qualified employees, KMPs, and full-time directors of the business.
Ipca Laboratories reported in a filing on the BSE that all other resolutions put before the shareholders in accordance with the notice of the postal vote dated February 14, 2024, have been passed by the necessary majority, with the exception of the resolution pertaining to approval of Ipca – Employee Stock Option Scheme – 2024.
As a special resolution, the Employee Stock Option Scheme needed at least 75% of the vote to pass. According to the filing, only 63.8% of the votes cast were in favor of the motion, with 36.19% voting against it.
These resolutions were passed with 99.72 per cent and 99.99 per cent votes in favour respectively, as per the filing.
