Adroit Infotech Board Approves ESOP Trust Formation

Summary of Key Information:

Reporting Period (Quarter/Year): Not Applicable

Nature of Filing / Announcement: Outcome of Board of Directors Meeting

Audit Opinion:

Not Specified

Key Financial Highlights:

Not Specified

Standalone Results:

Not Specified

Consolidated Results:

Not Specified

Segment-wise Performance:

Not Specified

Corporate Actions:

The Board approved the establishment and implementation of AIL ESOP-2023 Scheme through the Adroit Infotech Employees Welfare Trust. Specific corporate actions include:

• Appointment of Trustees for Adroit Infotech Employees Welfare Trust
• Execution, stamping and registration of Trust Deed, Trust Rules and Bye-Laws
• Authorization for all necessary registrations and approvals with regulatory authorities including Registrar of Companies, Income Tax Department, Stock Exchanges, SEBI, and Depositories
• Opening of bank account(s) in the name of "Adroit Infotech Employees Welfare Trust" with scheduled banks
• Adoption of Trust Funding Policy, Share Acquisition Policy, Trust Administration Policy and related documents

Other Significant Information:

The Trustees and/or authorized representatives were authorized to complete all necessary KYC, documentation, banking formalities, and to operate the account(s) in accordance with the Trust Deed and applicable laws.

The Board authorized the Trustees to take all necessary steps for the implementation and administration of AIL ESOP-2023 SCHEME through Adroit Infotech Employees Welfare Trust.