Page 294 - Demo

S.No
Particulars
ESOP 2019
ESPS 2019
l) Whether the scheme(s) involves new issue
of shares by the company or secondary acquisition by the trust or both
m) The amount of loan to be provided for
implementation of the scheme(s) by the company to the trust, its tenure, utilization, repayment terms, etc.
n) Maximum percentage of secondary
acquisition (subject to limits specified under the regulations) that can be made by the trust for the purposes of the scheme(s)
o) A statement to the effect that the
company shall conform to the accounting policies specified in Regulation 15 of the SEBI SBEB Regulations
p) The method which the company shall use to
value its options
q) lock in period
r) Statement with regard to Disclosure in Director’s Report
New issue of shares
Not Applicable
Not Applicable
It is hereby confirmed that the Bank shall conform to the accounting policies specified in Regulation 15 of SeBI (SBeB) Regulations, 2014
Fair Value method
The Shares allotted pursuant to the ESPS 2019 shall not be transferable in any manner for a minimum period of 1 (one) year from the date of allotment thereof, or any other such greater period as may be decided
by the Nomination and Remuneration Committee, from time to time, upto a maximum of 3 (three) years
In case the Bank opts for expensing of share based employee benefits using the intrinsic value, the difference between the employee compensation cost so computed and the employee compensation cost that shall have been recognized if it had used the fair value, shall be disclosed in the Directors’ report and the impact of this difference on profits and on earnings per share (“epS”) of the Bank shall also be disclosed in the
Directors' report.
The Board recommends the passing of the Resolution at Item No.5 as a Special Resolution.
the Chief Financial officer and Company Secretary of the Bank are interested in this resolution to the extent of shares allotted to them under ESPS 2019. None of the Directors except Managing Director and Ceo of the Bank or their relatives or concern is interested in the proposed resolution.
New issue of shares
Not Applicable
Not Applicable
It is hereby confirmed that the Bank shall conform to the accounting policies specified in Regulation 15 of SEBI (SBEB) Regulations, 2014
Fair Value method
The Shares issued upon Exercise of Options shall be freely transferable and shall not be subject to any lock-in period restriction after such Exercise
In case the Bank opts for expensing of share based employee benefits using the intrinsic value, the difference between the employee compensation cost so computed and the employee compensation cost that shall have been recognized if it had used the fair value, shall be disclosed in the Directors’ report and the impact of this difference on profits and on earnings per share (“epS”) of the Bank shall also be disclosed in the Directors' report.
The Board recommends the passing of the Resolution at Item No.4 as a Special Resolution.
The Managing Director & CEO, Chief Financial officer and Company Secretary (Key Managerial personnel) of the Bank are interested in this resolution to the extent of stock options granted to them under ESOP 2019. None of the other directors and their relatives are concerned or interested in the proposed resolution.
292 | AnnuAl RepoRt 2019-20