The grant details are as follows:
- 12,32,334 options at an exercise price of ₹9.50 per option granted to eligible employees of Lloyds Advance Defence Systems Limited, a subsidiary of the Company
- 4,15,000 options at an exercise price of ₹9.50 per option granted to eligible employees of Lloyds Engineering Works Limited
- 13,33,562 options at an exercise price of ₹9.50 per option granted to eligible employees of Lloyds Infrastructure and Construction Limited, an Associate Company of the Company
Total Options Granted: 29,80,896 options
Key Terms and Conditions:
- Each option shall result into one equity share of the Company upon exercise
- The ESOP 2021 scheme is in terms of the SEBI (Share Based Employee Benefits & Sweat Equity) Regulations, 2021
- Options granted have a minimum vesting period of one (1) year from the date of grant
- All options granted shall vest as per the vesting schedule specified in the respective grant letters
- Each tranche of Options should be exercised within 3 years from the respective Vesting Date
- The exercise price of ₹9.50 per option was determined by the Nomination and Remuneration Committee
The Company has received in-principle approval from BSE Limited and National Stock Exchange of India Limited for the ESOP 2021 plan, which was earlier submitted to the exchanges.
Current Status:
- Option vesting Date: Not Applicable (as of grant date)
- Options exercised: Not Applicable
- Money realized by exercise of options: Not Applicable
- Total number of shares arising from exercise: Not Applicable
- Options lapsed: Not Applicable
- Variation of terms of options: Not Applicable
- Subsequent changes or cancellation or exercise of such options: Not Applicable
- Diluted earnings per share: Not Applicable
The disclosure is made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and relevant SEBI Circulars including amendments thereon, with detailed disclosures provided in Annexure A, B, and C for each entity respectively.