Vascon Engineers Limited — Board/Management Information 2020

Jul 14, 2020

July 14, 2020

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To, National Stock Exchange of India Limited Listing Department, Exchange Plaza, Bandra (E), Mumbai – 400 051

To,

BSE Limited

The Department of Corporate Services Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai 400 001

Ref Symbol: VASCONEQ

Ref: Scrip Code: 533156

Sub: Outcome of the Board Meeting

Dear Sir/Madam,

Please find attached herewith outcome of the meeting of the Board of Directors of Vascon Engineers Limited, commenced at 1020 hours and concluded at 1055 hours on July 14, 2020.

We request you to take this information on record.

Thanking you,

For Vascon Engineers Limited Digitally signed by DANI VIBHUTI D DN: c=IN, o=Personal, postalCode=380004, DANI VIBHUTI st=GUJARAT, serialNumber=5ffb5233027b6a065fdafd4bd57df38 1e1b2a60176f5d2a643ce63e261d7c0a3, cn=DANI D VIBHUTI D Date: 2020.07.14 11:11:53 +05'30' Vibhuti Dani Company Secretary and Compliance Officer

Encl: As above

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This document is signed electronically

July 14, 2020

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To,

To,

BSE Limited National Stock Exchange of India Limited Phirozee Jeejeebhoy Towers, Exchange Plaza, C/1, G Block, Dalal Street, Fort, Bandra Kurla Complex, Bandra (E), Mumbai- 411 001 Mumbai - 400051 Symbol: 533156 Scrip Code: VASCONEQ Kind Attn: The Manager Kind Attn: The Manager, Department of Corporate Services Listing Department

Subject: Outcome of Board Meeting held on July 14, 2020

Dear Sir / Madam,

We wish to inform you that the Board of Directors of the Company, at its meeting concluded today, inter alia, has approved the following: -

• 1. Approved variation of terms of existing Employees Stock Option Scheme 2017 - Repricing of Share Price of Stock Options granted under Employees Stock Options Scheme, 2017 at a revised price of Rs. 10 from Rs.15 subject to approval of Shareholders by passing of Special Resolution by way of Postal Ballot.
• 1. Approved grant of upto 1,60,00,000 (One crore sixty Lacs) stock options to the eligible employees of the Company under Employee Stock Option Scheme vesting from 2023 to 2026 at a price to be decided by the Board of Directors subject to approval of Shareholders by passing of Special Resolution by way of Postal Ballot.
• 1. Approved adhoc payment of Rs. 5 crores as ex-gratia for the FY 2019-20 to Mr. R Vasudevan, Executive Chairman of the company on account of his commendable services rendered to the Company as per the recommendation by Nomination and Remuneration Committee.

The Meeting of Board of Directors commenced at 1020 hours and concluded at 1055 hours.

You are requested to kindly take the same on record.

Thanking you,

For Vascon Engineers Limited

DANI

VIBHUTI D Vibhuti Dani

Digitally signed by DANI VIBHUTI D DN: c=IN, o=Personal, postalCode=380004, st=GUJARAT, serialNumber=5ffb5233027b6a065fdaf d4bd57df381e1b2a60176f5d2a643ce6 3e261d7c0a3, cn=DANI VIBHUTI D Date: 2020.07.14 11:18:19 +05'30'

Company Secretary and Compliance Officer

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This document is signed electronically