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DEV INFORMATION TECHNOLOGY LIMITED — Capital/Financing Update 2024
Sep 5, 2024
59295_rns_2024-09-05_1d165001-681f-4eee-8927-30e17bef4590.pdf
Capital/Financing Update
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Dev Information Technology Limited
Reg. Office: 14, Aaryans Corporate Park, Near Shilaj Railway Crossing, Thaltej-Shilaj Road, Thaltej, Ahmedabad - 380 059. (INDIA) Phone: +91 94298 99852 / 53
www.devitpl.com | [email protected]
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Offices: Gujarat | Maharashtra | Rajasthan | Canada CIN: L30000GJ1997PLC033479
To, To, The Manager-Listing Department, The Secretary, The National Stock Exchange of India Limited, BSE Limited Exchange Plaza, Plot No. C/1, G-Block, Phiroze Jejeebhoy Towers, Bandra Kurla complex, Dalal Street Mumbai -400001 Bandra East, Mumbai-400 051 Trading Symbol: DEVIT Trading Symbol: 543462
Dear Sir/Mam,
Re: Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) - - Regulations, 2015 Dev Information Technology Limited Employees Stock Option Plan 2024
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 ("Listing Regulations"), we wish to inform that the Board at its meeting held on Thursday, September 05[th] ,2024 inter alia, approved introduction and implementation of " Dev Information Technology Limited - Employees Stock Option Plan 2024 ", subject to approval of the shareholders of the Company.
The requisite disclosure pertaining to Dev Information Technology Limited - Employees Stock Option Plan 2024 as required under Regulation 30 of the Listing Regulations read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 09, 2015, is enclosed herewith.
Kindly take the same on record.
Thanking you,
On behalf of Board of Directors DEV INFORMATION TECHNOLOGY LIMITED
Digitally signed by KRISA KAIRAV SHAH DN: c=IN, o=Personal, title=2582, pseudonym=CDCD7FC7D81194322A5D754479A99121, 2.5.4.20=85084771729dcbf53eeb59ca8816c302300d8440c b27e3444c7c94d4181b4266, postalCode=380007, st=Gujarat, serialNumber=0D148FB642AD1A5177D6AC789F641CE2A4 6A0172B9661A7716658794938A1AF0, cn=KRISA KAIRAV SHAH Date: 2024.09.05 18:47:56 +05'30'
KRISA KAIRAV
SHAH
Krisa Shah Company Secretary & Compliance Officer Place: Ahmedabad Date: 05[th] September, 2024
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Dev Information Technology Limited
Reg. Office: 14, Aaryans Corporate Park, Near Shilaj Railway Crossing, Thaltej-Shilaj Road, Thaltej, Ahmedabad - 380 059. (INDIA) Phone: +91 94298 99852 / 53
www.devitpl.com | [email protected]
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Offices: Gujarat | Maharashtra | Rajasthan | Canada CIN: L30000GJ1997PLC033479
Annexure-I
Disclosure pertaining to Dev Information Technology Limited - Employees Stock Option Plan 2024 ("the Plan")
| S. No. |
Particulars | Remarks |
|---|---|---|
| 1. | brief details of options granted; |
The number of options that would be available for grant to the eligible employees of the Company and eligible employees of the Subsidiary Company(s), if any, under ESOP 2024, in one or more tranches will not be more than 18,00,000 (Eighteen Lakhs) employee stock options which upon exercise shall not exceed in aggregate 18,00,000 (Eighteen Lakhs) equity shares (“Shares”) having a face value of Rs. 5/- (Rupees Five Only) each fully paid-up of the Company. Each option would carry a right to apply for 1 (One) Equity Share in the Company of face value of Rs 5/‐ each,fully paid‐up. |
| 2. | whether the scheme is in terms of SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021 (if applicable); |
Dev Information Technology Limited - Employees Stock Option Plan 2024 is in compliance with the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021. |
| 3. | total number of shares covered bythese options |
18,00,000 (Eighteen Lakhs) |
| 4. | pricing formula; | The Compensation Committee will determine the exercise price in case of each grant subject to the same not being less than the face value of the equity shares of the Company (Rs. 5/-) and not more than the ‘market price’ of the equityshares at the time ofgrant. |
| 5. | options vested; | NA |
| 6. | time within which option may be exercised; |
Subject to the terms and conditions as may be determined by the Compensation Committee and as set forth under the Plan, the Options may be exercised by the employee upon vesting. Eligible Employee will be permitted to exercise vested options on and from the date of vesting of the options for an exercise period as may be determined by the Committee and set out in the Grant Letter. However, in no event shall the Exercise Period exceed a period of 3(Three) years from the VestingDate. |
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Dev Information Technology Limited
Reg. Office: 14, Aaryans Corporate Park, Near Shilaj Railway Crossing, Thaltej-Shilaj Road, Thaltej, Ahmedabad - 380 059. (INDIA) Phone: +91 94298 99852 / 53
www.devitpl.com | [email protected]
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Offices: Gujarat | Maharashtra | Rajasthan | Canada CIN: L30000GJ1997PLC033479
| In the event of resignation/termination/superannuation /death/permanent disability, options will be exercised in accordance with Plan. |
||
|---|---|---|
| 7. | options exercised; | NA |
| 8. | money realized by exercise of options; |
NA |
| 9. | the total number of shares arising as a result of exercise of option |
NA |
| 10 | options lapsed | NA |
| 11 | variation of terms of options | NA |
| 12 | brief details of significant terms; |
This Plan shall be operated and administered by the Compensation Committee of the Company. The Compensation Committee will decide the number of Options to be granted to each Eligible Employee. Upon a valid Exercise of a Vested Option by a Participant, each Vested Option will entitle the Participant to 1 (one) Share of the Company. The exact proportion in which and the exact period over which the employee stock options would vest would be determined by the Compensation Committee, subject to the minimum vesting period of one year from the date of grant of employee stock options and maximum vesting period of not more than 5 years. The Options will Vest at a rate that is in line with achievement of key organizational performance metrics, as determined bythe Compensation Committee. |
| 13 | subsequent changes or cancellation or exercise of such options |
NA |
| 14 | diluted earnings per share pursuant to issue of equity shares on exercise of options |
NA |
Digitally signed by KRISA KAIRAV SHAH DN: c=IN, o=Personal, title=2582, pseudonym=CDCD7FC7D81194322A5D754479A99121, KRISA KAIRAV 2.5.4.20=85084771729dcbf53eeb59ca8816c302300d8440c b27e3444c7c94d4181b4266, postalCode=380007, st=Gujarat, serialNumber=0D148FB642AD1A5177D6AC789F641CE2A4 SHAH 6A0172B9661A7716658794938A1AF0, cn=KRISA KAIRAV SHAH
Date: 2024.09.05 18:48:09 +05'30'
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Mobile Applications
Managed IT | Services
Enterprise Applications |
Business Applications |