Milkfood has informed that pursuant to the approval of the ‘Milkfood Limited Employee Stock Option Plan 2024’ (Milkfood ESOS 2024 Plan/ Scheme) by the Board of Directors of the company on 2nd December, 2024 and by the members of the Company on 30th December, 2024 and pursuant to receipt of In-Principle approval of BSE on 23rd January, 2025, the NRC of the Company, at its meeting held on 27th January, 2025 has granted 12,18,000 (Twelve Lakh Eighteen Thousand only) options to the Eligible Employees of the Company, Almost all grantee(s) to whom 1218000 options were granted on 27th January, 2025 have expressed their inability to exercise the options granted to them and returned back the options to the company citing unattractive proposal as the main reason. In view of the same, the matter has been put up before the NRC to review the matter and accordingly accepted the request of employee for lapse of 1218000 options. In accordance with the scheme, the said lapse options shall be made part of pool and NRC may re-issue such options in future at such terms and conditions as it may deemed fit. Therefore, 1218000 options granted on 27th January, 2025 are considered to be lapsed.
The above information is a part of company’s filings submitted to BSE.
