M&B Engineering Ltd. Shareholders Approve Employee Stock Option Plan Ratification
M&B Engineering Ltd. announced that resolutions related to the ratification of its Employee Stock Option Plan 2024 (ESOP) and the grant of employee stock options to group company employees were passed by shareholders through a postal ballot and e-voting process. The results, declared on March 19, 2026, were based on voting concluded on March 18, 2026.According to the scrutineer’s report from Kasbyap R. Mehta & Partners, 4,41,62,578 shares, representing 97.08%, voted in favor of the resolution ratifying the M&B Engineering Limited Employee Stock Option Plan 2024, while 13,27,999 shares, or 2.92%, voted against it. A similar outcome was observed for the resolution ratifying the grant of employee stock options, with 4,41,62,578 shares (97.08%) in favor and 13,27,999 (2.92%) against.
The company dispatched postal ballot notices to 31,787 shareholders and published advertisements in English and Gujarati newspapers on February 17, 2026. Central Depository Services (India) Limited (CDSL) served as the e-voting service provider. The voting results and the scrutineer's report are available on the company website at www.promactimpex.com and on the CDSL e-voting platform at www.evotingindia.com.
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