Pursuant to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and in continuation to letter Ref No.659/CO/2914/INRC/SE/2018-19 dated December 15, 2018, Syndicate Bank has informed that the Committee of Directors on ESPS (Compensation Committee) of the bank in its meeting held on December 20, 2018 has finalized and approved a scheme namely Syndicate Bank Employee Stock Purchase Scheme (‘SYNDIBANK-ESPS’) to raise Equity Share Capital up to Rs 500 Crore by creating, granting offer, issuing and allotting up to 30,00,00,000 new Equity Shares of face value of Rs 10 each to the eligible employees of the bank; determined/fixed the pricing of the issue at Rs 33.67 per share. The maximum discount is up to 25% for the issuance and allotment of new equity share under the scheme; and authorized the Managing Director & Chief Executive Officer or in his absence, Executive Director/s of the bank, individually, to open the issue, close the issue, allot the equity shares to the eligible employees who participate in the Scheme and to do all such acts, deeds and things as may be necessary and expedient in connection with the implementation of the proposed ESPS, subject to compliance of all applicable laws, rules and regulations. The meeting commenced at 2.30 PM and concluded at 8.25 PM.
The above information is a part of company’s filings submitted to BSE.
