Nature and Purpose of the Meeting

The Nomination and Remuneration Committee (NRC) meeting was held to approve:

1. Re-grant of lapsed/forfeited Employee Stock Options under the Spacenet Employee Stock Option Scheme 2021

2. Allotment of Equity Shares to employees who exercised their vested Options

Details of Resolutions Passed

Re-grant of Options:

  • Quantity: 6,02,500 (Six Lakh Two Thousand Five Hundred) Employee Stock Options
  • Exercise Price: ₹1 per Option
  • Eligible Employees: Four employees
  • Does not increase overall Scheme ceiling

Allotment of Equity Shares:

  • Quantity: 6,04,500 (Six Lakh Four Thousand Five Hundred) Equity Shares
  • Face Value: ₹1 per share
  • Exercise Price: ₹1 per share
  • Premium: Nil
  • Distinctive Numbers: 56,77,35,737 to 56,83,40,236

Financial Impact

  • Total capital raised: ₹6,04,500 (from exercise of options)
  • Total issued shares after allotment: 56,83,40,236 (Fifty-Six Crore Eighty-Three Lakh Forty Thousand Two Hundred Thirty-Six) Equity Shares
  • Total issued share capital after allotment: ₹56,83,40,236 divided into 56,83,40,236 Equity Shares of ₹1 each
  • Shares rank pari passu with existing shares and have no lock-in

Timing of the Meeting

  • Commencement: 11:00 A.M. IST
  • Conclusion: 11:40 P.M. IST
  • Date: Tuesday, 15th September 2026

Compliance References

  • Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • Regulation 10(c) of SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021
  • Scheme approved by NSE vide Ref. NSE/LIST/29589 dated 28th January 2022 for up to 1,00,00,000 Equity Shares

Significant Terms of ESOP Scheme

  • Acceptance Deadline: Within 60 days from date of grant (Closing Date)
  • Minimum Vesting Period: 1 year
  • Vesting Schedule:
  • End of first year: 60% of options granted
  • End of second year: 15% of options granted
  • End of third year: 15% of options granted
  • End of fourth year: 10% of options granted
  • Exercise Period: Within six months from respective vesting date
  • No payment required at time of grant
  • Each Option convertible into one Equity Share of ₹1 face value

Other Material Disclosures

  • Shares are being credited in dematerialized form (no physical certificates)
  • Listing fees payable as per NSE requirements
  • Company CIN: L68100TG2010PLC068624