We wish to inform that the Board of Directors of the Company at their meeting held today i.e. Friday December 29 2023 (as recommended by the Nomination and Remuneration Committee) has inter-alia considered and approved Wabag Centenary Stock Option Scheme 2023 in terms of the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations 2021 subject to the approval of the Shareholders through an Extraordinary General Meeting (EGM) and regulatory statutory and other approvals as may be required in this regard. The proposed Wabag Centenary Stock Option Scheme 2023 is a strategic initiative aimed at fostering the employees rewarding for their dedicated services in celebration of the Centenary year of the brand WABAG and with a view to implement a broad-based employee stock ownership program for the employees of VA Tech Wabag Limited (the Company) and its Group companies including Subsidiary company(ies) and Associate company(ies) of the Company under the said Scheme.
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