Sub: Disclosure of events or information under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Dear Sir / Madam,
Pursuant to Regulation 30 of the SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 and subject to the provisions of the SEBI (Share Based Employee Benefits & Sweat Equity) Regulations, 2021 (collectively referred to as 'SEBI & SE Regulations') and in accordance with 'PVR Employee Stock Option Plan 2022' ("PVR ESOP 2022"/ "Plan"), the Nomination and Remuneration Committee ('Committee') on March 9, 2022, has approved the grant of 5,68,500 employee stock options ("Option") (Five Lakhs Sixty Eight Thousand Five Hundred Options) to the eligible employees exercisable into not more than 5,68,500 equity shares of face value of Rs. 10/- each fully paid-up of the Company.
In this connection, the relevant disclosures as per the SEBI Regulations are as under:
Sr. No.
Particulars
Details
a)
Brief details of Options granted
5,68,500 Options to the eligible
employees of the Company as
determined by the Committee.
b)
Whether the scheme is in
Yes
terms of SEBI
(SBEB & SE)
Regulations,
2021
(if
applicable)
c)
Total number of shares covered
5,68,500 equity shares of face value
by these options
of Rs. 10/- each fully paid-up of the
Company.
d)
Pricing formula
The Exercise Price is Rs. 1,347/-
which is at a discount of
approximately 10% on the average of
last three months trading price (i.e.
Weighted Average Price) of INR
1,497/- prior to the Grant of NSE.
e)
Options vested
Vesting of Options is subject to
overall minimum Vesting Period of 1
(one) year and maximum Vesting
Period of 3 (three) years from the date
of grant as per the Plan.
f)
Time within which option may
Vested Option shall be exercisable
be exercised
within a maximum period of 3 (Three)
years from the date of respective
Vesting of Options subject to the
terms of PVR ESOP 2022
g)
Options exercised
Not Applicable
h)
Money realized by exercise of
Not Applicable
options
i)
The total number of shares
Not Applicable
arising as a result of exercise of
options
j)
Options lapsed
Not Applicable
k)
Variation of terms of options
Not Applicable
l)
Brief
details
of
significant
Vesting of Options is subject to
terms
overall minimum vesting period of
one year and maximum vesting
period of three years from the date of
grant as per ESOP Plan.
m)
Subsequent
changes
or
Not Applicable
cancellation or exercise of such
options
n)
Diluted
earnings
per
share
Options are yet to be exercised
pursuant to issue of equity
shares on exercise options
This is for your information and record.
Thanking You.
For PVR Limited
MUKESH KUMAR
Digitally signed by
MUKESH KUMAR Date: 2022.03.10 12:42:37 +05'30'
Mukesh Kumar
SVP - Company Secretary
& Compliance Officer
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PVR Limited published this content on 10 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 March 2022 07:42:07 UTC.
PVR INOX Limited is a film exhibition company in India with approximately 1713 screens across 362 properties in 115 cities in India and Sri Lanka. The Company is engaged in the business of movie exhibition, distribution and production and also in-house advertising, sale of food and beverages (F&B), gaming and restaurant business. It is involved in the theatrical exhibition business and allied activities under brand, PVR INOX. It offers features, such as premium large formats (PLF) for a wider viewing area through formats like BigPix, ScreenX, P[XL]. The Company also prioritize sound and electroacoustic enhancements to deliver an audio-visual journey through IMAX, ICE, 4DX, MX4D, and Onyx. Its other brands include Insignia, Director's Cut and Luxe. It offers a range of F&B options catering to diverse tastes, from gourmet delights to healthier alternatives. Its subsidiaries include PVR Pictures Limited, Shouri Properties Private Limited, Zea Maize Private Limited and PVR Lanka Limited.