Uno Minda Announces 77,732 Equity Shares To Employees As Stock Option

Uno Minda Announces 77,732 Equity Shares To Employees As Stock Option

The paid-up equity share capital of the company stands increased from Rs 114,61,84,416 to 114,63,39,880 in terms of Regulations 10(c) of the SEBI (Share Based Employee Benefits & Sweat Equity) Regulations, 2021 (SEBI Regulations).

FPJ Web DeskUpdated: Tuesday, September 12, 2023, 12:25 PM IST
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Uno Minda Announces 77,732 Equity Shares To Employees As Stock Option | Image: Uno Minda (Representative)

Uno Minda Limited on Tuesday announced that the the Nomination & Remuneration Committee of the Board of the Company approved the allotment of 77,732 equity shares of the face value of Rs 2 each, pursuant to the exercise of options by the grantees under UNO Minda Employees Stock Option Scheme, 2019, the company announced through an exchange filing.

The face value of the equity shares is Rs 2 each.

The Company is in the process of applying for the listing of these said shares with the stock exchanges i.e. NSE and BSE.

The paid-up equity share capital of the company stands increased from Rs 114,61,84,416 to 114,63,39,880 in terms of Regulations 10(c) of the SEBI (Share Based Employee Benefits & Sweat Equity) Regulations, 2021 (SEBI Regulations).

Further, this intimation is in terms of Regulation 30 of the SEBl(LODR) Regulations, 2015, however, the company clarified that the aforesaid allotment of shares is not material in nature to the Company.

All the equity shares of the company pursuant to exercise of stock options shall rank pari passu with the existing equity shares of the Company.

Approval of acquisition of stake in Uno Minda Europe GmbH, Step Down-Subsidiary of the Company

The Board of Directors of the Company in its Meeting held today has approved the acquisition of remaining 3.81 percent stake of Uno Minda Europe Gmbh (Step Down-Subsidiary of the Company) held by George Hutter at a consideration of Euro 1.3 Million by SAM Global Pte Ltd (Wholly Owned Subsidiary of the Company), the company announced via the filing.

Post-acquisition, Uno Minda Europe Gmbh will become wholly owned subsidiary of the Company.

Uno Minda Limited shares

The shares of Uno Minda Limited in Tuesday at 11:50 am IST were at Rs 619.40, down by 1.28 percent.

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