The pool of shares to be transferred by the ESOP Trust to the eligible employees upon their RSU/ ESOP exercise would be created by a mix of purchasing Company shares by the ESOP Trust from the secondary market and fresh issue of shares by the Company to the ESOP Trust.
As regards purchase of shares by the ESOP Trust from the secondary market based on the grants made by the Company the current requirement for creation of sufficient pool of Company shares for honoring exercise of RSUs/ ESOPs being immediately vested under the PESOS 2014 and ESOP 2017 Scheme is 8 00 000 Company shares.
Accordingly it has been decided to acquire the abovementioned 8 00 000 Company Shares from Secondary Market through ESOP Trust.
The above plan of purchase will be executed from Wednesday August 4 2021.
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