Key Quantitative Figures

  • Number of options granted: 25,000 stock options
  • Underlying shares: 25,000 equity shares of ₹10 each
  • Exercise price per option: ₹25
  • Face value per share: ₹10
  • Conversion ratio: Each stock option carries right to apply for and be allotted 1 equity share
  • Maximum potential shares: 25,000 equity shares (if all options exercised)

Dates of Action

  • Shareholder approval date: 23rd August 2024 (via Postal Ballot)
  • Committee approval date: 14th November 2026 (Saturday)
  • Vesting period: Options vest on completion of one year from date of grant

Parties Involved

  • Grantor: Kernex Microsystems (India) Limited
  • Approving authority: Nomination and Remuneration Committee of the Board of Directors
  • Beneficiaries: Eligible employees of the Company
  • Regulatory framework: SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021
  • Scheme name: Kern ex Employees Stock Options Scheme 2023 (KMIL ESOS 2023)

Terms and Conditions

  • Exercise window: To be determined by Nomination and Remuneration Committee from time to time
  • Vesting condition: Completion of one year from date of grant
  • Pricing formula: Fixed at ₹25 per option

Current Status

  • Options granted: 25,000
  • Options exercised: Not applicable
  • Money realized: Not applicable
  • Options lapsed: Not applicable
  • Variation of terms: Not applicable
  • Subsequent changes: Not applicable
  • Diluted earnings per share: Not applicable

Additional Information

Disclosure as required under Regulation 30 of SEBI LODR is enclosed as "Annexure -A" with the original filing.