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PG Electroplast Limited Capital/Financing Update 2023

May 26, 2023

61393_rns_2023-05-26_d303f6df-0b77-4568-abcc-34beeeecaebe.pdf

Capital/Financing Update

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May 26, 2023

	To, The Manager (Listing) BSE Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400 001 Scrip Code: 533581	To, The Manager (Listing) National Stock Exchange of India Limited, Exchange Plaza, Bandra Kurla Complex, Bandra (East), Mumbai - 400 051 Scrip Symbol: PGEL

Sub: Disclosure of the Meeting of Nomination and Remuneration Committee held on May 26, 2023

Dear Sir,

In terms of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we would like to inform your good office that the Nomination and Remuneration Committee of the Company in their meeting held today i.e., Friday, May 26, 2023, has inter-alia, considered and approved the following businesses:

a) Allotment of 48,200 (Forty-Eight Thousand Two Hundred only) Equity Shares of Rs. 10/- each to ‘PG Electroplast Limited Employees Welfare Trust’ under the PG Electroplast Employees Stock Options Scheme - 2020.
b) Grant of 3,57,000 (Three Lakh Fifty-Seven Thousand only) Employee Stock Options (“Options”) convertible into equal number of Equity Shares of the Company of face value of Rs. 10/- each, to the Employees of the Company and its Subsidiary Company, under the PG Electroplast Employees Stock Option Scheme – 2020 (“Scheme”).

The terms of the grant, inter-alia, are as under:

Sl. No.	Particulars	Details
1.	Brief details of options granted	Grant of 3,57,000 (Three Lakh Fifty-Seven Thousand only) Employee Stock Options to eligible employees. Effective grant date being May 26, 2023.
Sanchay Dubey Digitally signed by Sanchay Dubey Date: 2023.05.26 13:48:28 +05'30'

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2.	Whether the scheme is in terms of SEBI (Share Based Employee Benefit and Sweat Equity) Regulations, 2021 (if applicable)	Yes
3.	Total number of shares covered by these options	3,57,000 (Three Lakh Fifty-Seven Thousand only) Equity Shares of face value Rs. 10/- each (Each Option is convertible into one Equity Share of the Company).
4.	Pricing Formula	Under this Scheme, the exercise price of the Shares will be based upon the Market price decided by the Nomination and Remuneration Committee. The Nomination and Remuneration Committee has a power to provide suitable discount, however, in any case the exercise price shall not go below the par value of Share of the Company. Accordingly, the exercise price was determined at Rs. 1,100/- per Option.
5.	Options Vested	Not Applicable (As this outcome is pertaining to grant of Options under the Scheme.)
6.	Time within which option may be exercised	All Options upon vesting shall be exercisable within 1(One) year from the date of respective vesting.
7.	Options exercised	Not Applicable (As this outcome is pertaining to grant of Options under the Scheme.)
8.	Money realized by exercise of Options	Not Applicable (As this outcome is pertaining to grant of Options under the Scheme.)

9.	The total number of Shares arising as a result of exercise of Options	3,57,000 (Three Lakh Fifty-Seven Thousand only) Equity Shares of face value Rs. 10/- each will arise deeming all granted options are vested and exercised.
10.	Options lapsed	Not Applicable (As this outcome is pertaining to grant of Options under the Scheme.)
11.	Variation in terms of Options	Not Applicable
12.	Brief details of significant terms	The Scheme is administered by the Nomination and Remuneration Committee. The grant of Options is based upon the eligibility criteria as mentioned in the Scheme. The granted Options once vested shall entitle the Option holder to acquire equal number of Equity Shares, upon payment of exercise price and applicable taxes in accordance with terms and conditions of the Scheme. The granted Options shall vest within minimum period of 1 year and maximum period of 4 years from the date of grant. All Vested Options shall be respectively exercised in one or more tranches within a period of 1 year from the date of respective vesting. The Options granted to the Employees under this Scheme shall carry an Exercise Price, which shall be at a discount to the Market Price, if and as may be determined by the Nomination and Remuneration Committee.

		However, the Exercise Price shall not be less than the par value of the Equity Shares of the Company.
13.	Subsequent changes or cancellation or exercise of such Options	Not Applicable (As this outcome is pertaining to grant of Options under the Scheme.
14.	Diluted earnings per share pursuant to the issue of equity shares on exercise of Options.	Not Applicable (As this outcome is pertaining to grant of Options under the Scheme.)

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PG Electroplast Limited — Capital/Financing Update 2023

61393_rns_2023-05-26_d303f6df-0b77-4568-abcc-34beeeecaebe.pdf

May 26, 2023

Sub: Disclosure of the Meeting of Nomination and Remuneration Committee held on May 26, 2023

For PG Electroplast Limited

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