Gokaldas Exports Limited (GOKEX) has announced a postal ballot to seek shareholder approval for its 'GEL Employee Stock Option Plan 2025' (ESOP 2025). Key details of the proposed plan include:
- The plan aims to offer and grant not exceeding 20,00,000 (Twenty Lakhs) employee stock options.
- Each option, upon exercise, will convert into one equity share of face value ₹ 5/-.
- Eligible employees include those working in India or outside, for the company and its subsidiaries, excluding promoters, promoter group members, independent directors, and directors holding directly or indirectly more than 10% of outstanding equity shares.
- Options granted will vest not earlier than 1 year and not later than 3 years from the date of grant.
- The exercise price per option will be determined by the Nomination and Remuneration Committee, up to a 10% discount to the market price, but not less than the face value of ₹ 5/-. The market price is defined as the closing price on the stock exchange with the highest trading volume on the day immediately prior to the Committee finalizing the options to be granted.
- The exercise period for vested options will be a maximum of 1 year from the vesting date.
- The company stated that equity-based compensation is integral for aligning employee goals with organizational objectives and for attracting, retaining, and rewarding employees to drive growth. The previous scheme, 'GEL Employee Stock Option Plan 2022', concluded in March 2025.
- The remote e-voting for the postal ballot will commence on Wednesday, June 25, 2025, at 9:00 a.m. IST and conclude on Thursday, July 24, 2025, at 5:00 p.m. IST.
- The cut-off date for determining eligible members for voting is Friday, June 20, 2025.
- The results of the postal ballot are expected to be announced on or before Monday, July 28, 2025.