Allotment of 8,00,000 Equity Shares of Face Value of Rs. 1 Each under Deccan Gold Mines Limited Stock Incentive Plan 2024.
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Deccan Gold Mines Limited has allotted 8,00,000 equity shares of Rs. 1 each to employees who exercised their stock options under the DGML SIP 2024 scheme. The shares were issued at an exercise price of Rs. 20 per share, generating Rs. 1.6 crore for the company. Following this allotment, the company's paid-up share capital increased from Rs. 19.79 crore to Rs. 19.87 crore. The total shares outstanding now stand at 19,87,01,715 equity shares. This represents a dilution of approximately 0.4% from the new share issuance. The shares rank pari passu with existing shares and are not subject to any lock-in.
Minor dilution of 0.4% for existing shareholders due to new share issuance under the employee stock option plan. The exercise price of Rs. 20 (19x premium to face value) indicates confidence by employees in the company's prospects. The Rs. 1.6 crore inflow provides modest capital for operations.