Page 90 - Kolte Patil AR 2019-20
P. 90

                             Disclosure with respect to Employee stock option scheme of the Company

          A)  For disclosures in terms of the ‘Indian Accounting Standard 33 - Earnings Per Share’, please refer Note no. 38 of the Standalone Financial
             Statements of the Company for the year ended 31 March 2020.
          B)  Diluted EPS on issue of shares : C8.43
          C)  The details pursuant to Regulation 14 of SEBI (Share Based Employee Benefits) Regulations, 2014 are furnished hereunder:
              Sr. No. Nature of Disclosure          Employee stock option scheme (ESOS 2014)
                1.  A description of each Employee Stock   The ESOS was approved by Board of Directors of the Company on 13 August,
                    Option Scheme (ESOS) that existed at   2014 and thereafter by the shareholders on 13 September 2014. A Nomination
                    any time during the year, including the   and Remuneration committee comprising of independent directors and Non-
                    general terms and conditions of each   Executive Director of the company administers the ESOS plan. Each option
                    ESOS                            carries with it the right to purchase one equity share of the company.
                2.  Date of shareholders’ approval  13 September 2014
               3.   Total number of options approved under   2,500,000
               4.   Vesting requirements            The options will be vested as per vesting schedule/plan defined in Scheme
                                                    and vested over a period of 3 years/ 5 years/ 7 years. The vesting is subject to
                                                    vesting conditions as per defined in Scheme.
               5.   Exercise price or pricing formula  The Exercise Price shall be determined by Nomination and Remuneration
                                                    Committee at the time of grant of option.
               6.   Maximum term of options granted  The maximum exercise period is 5 year from the date of vesting.
               7.   Source of shares (primary, secondary or   Primary
               8.   Variation of terms of Option    Not Applicable
               9.   Method used to account for ESOS   Fair value
               10.  Weighted-average exercise prices and   Refer Note No. 45 of the Standalone Financial Statements
                    weighted-average fair values of options
         D)  Option movement during FY 2019-20 :
              Particulars                                                    31 March 2020        31 March 2019
              Number of options outstanding at the beginning of the period         379,000              26,500
              Number of options granted during the year                                0               379,000
              Number of options forfeited / lapsed during the year Number              0                10,000
              Number of options vested during the year                                 0                16,500
              Number of options exercised during the year                              0                16,500
              Number of shares arising as a result of exercise of options              0                16,500
              Money realized by exercise of options (INR), if scheme is implemented    0             C2,326,500
              directly by the company
              Loan repaid by the Trust during the year from exercise price received   N.A.                N.A.
              Number of options outstanding at the end of the year                 379,000             379,000
              Number of options exercisable at the end of the year                 379,000             379,000

          E)  The Company has not granted any stock options to senior managerial personnel nor to any employee in excess of 5% or more of option
             granted during that year and nor to any identified employees who were granted option, during any one year equal to or exceeding 1%
             of the issued capital (excluding outstanding warrants and conversions) of the company at the time of grant.

          88 | Kolte-Patil Developers Limited
   85   86   87   88   89   90   91   92   93   94   95