Magma Fincorp has informed that the Nomination and Remuneration Committee of the Board of Directors of the Company which have been authorized in this regard, through resolution passed by circulation on 19 November 2019 have granted 10,01,711 options under Magma Employee Stock Option Plan 2007 to the eligible employees of the Company. The grant of the above Options are in line with SEBI (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999 as amended from time to time and with the corresponding provisions of the SEBI (Share Based Employee Benefits) Regulations, 2014. The stock options shall vest as per the vesting schedule as approved by the Nomination and Remuneration Committee of the Board.
The above information is a part of company’s filings submitted to BSE.
