Nykaa receives shareholders approval for bonus issue and ESOP

The Board of the lifestyle retailer FSN E-Commerce Ventures Limited (Nykaa), on October 3, 2022, approved Bonus Issue of Equity Shares in the proportion of 5 (Five) fully paid-up Equity Shares of ₹ 1/- each for every 1 (One) fully paid-up Equity Share of ₹ 1/- each held by the shareholders of the Company, subject to shareholders' approval. Pursuant to this, the company held a postal ballot for the issue of Bonus Shares out of its securities premium reserves from October 4, 2022 to November 2, 2022.

The Company received an overwhelming response from its shareholders and witnessed 100% of the voting in favour of the Bonus Resolution.

"The Company believes that Bonus Shares will encourage the participation of retail investors in the long term, as well as see a wider shareholding."

Additionally, in line with Nykaa's aim to attract and retain the right talent pool and build long term incentive structures, The Nomination and Remuneration Committee of the Directors and the Board of Directors of the Company at their respective meetings held on September 30, 2022 and October 3, 2022 have approved the introduction of the Employee Stock Option Plan 2022 & Employee Stock Unit Plan 2022 subject to shareholders' approval. Pursuant to this, the company held a postal ballot for Employee Stock Option Plan 2022 & Employee Stock Unit Plan 2022 from October 4, 2022 to November 2, 2022.

The new ESOPS and Stock Unit Schemes will be applicable to employees of the Company and its group of companies - including its subsidiaries and associate companies.

Under the ESOP plan, the total number of Options to be granted shall not exceed 16,00,000 (Sixteen Lakhs only) (will be proportionally adjusted in case of any corporate action(s) such as bonus issue etc.), being 0.334% of the paid-up equity share capital of the Company on a fully diluted basis as on the date of the adoption of the Plan.

Shareholders approved the proposal of Employee Stock Option Plan 2022 with 92% voting in favour of the resolution.

Under the RSU plan, the total number of Units to be granted shall not exceed 4,00,000 (Four Lakhs only) (will be proportionally adjusted in case of any corporate action(s) such as bonus issue etc.), being 0.084% of the paid-up equity share capital of the Company on a fully diluted basis as on the date of the adoption of the plan.

Employee Stock Unit Plan 2022 received as many as 94% votes in favour of the resolution.

Shares of FSN E-Commerce Ventures Ltd was last trading in BSE at Rs. 1153.60 as compared to the previous close of Rs. 1185.75. The total number of shares traded during the day was 283677 in over 15665 trades.

The stock hit an intraday high of Rs. 1209.00 and intraday low of 1142.00. The net turnover during the day was Rs. 331005593.00.

Source : Equity Bulls

Keywords

FSNECommerceVentures BonusIssue BonusShares ESOP RSU