PG Electroplast Limited — Capital/Financing Update 2024

Apr 20, 2024

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April 20, 2024

	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 April 20, 2024

Dear Sir/Madam,

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., Saturday, April 20, 2024, has inter-alia, considered and approved:

• a) Grant of 1,41,000 (One Lakh Forty-One 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:

S. No.	Particulars	Details
1.	Brief details of options granted.	Grant of 1,41,000 (One Lakh Forty-One Thousand only) Employee Stock Options to eligible employees. Effective grant date being April 20, 2024.
2.	Whether the scheme is in terms of SEBI (Share Based Employee Benefit and Sweat Equity) Regulations, 2021 (if applicable).	Yes

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3.	Total number of shares covered by these options.	1,41,000 (One Lakh Forty-One 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 the power to provide a suitable discount, however, in any case the exercise price shall not go below the par value of the Share of the Company. Accordingly, the exercise price was determined at Rs. 1,500/- (Rupees One Thousand Five Hundred Only) 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.	1,41,000 (One Lakh Forty-One 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.)

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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.)

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1. Diluted earnings per share pursuant Not Applicable to the issue of equity shares on (As this outcome is pertaining to grant of exercise of Options. Options under the Scheme.)

Kindly take the above information on your records.

Thanking you, Yours faithfully,

For PG Electroplast Limited

SANCHAY Digitally signed by SANCHAY DUBEY DUBEY Date: 2024.04.20 15:03:08 +05'30' (Sanchay Dubey) Company Secretary

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