Grant of 7,50,000 Employee Stock Options under Deccan Gold Mines Limited Stock Incenive Plan, 2024.
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Deccan Gold Mines Ltd has announced the grant of 7,50,000 (750,000) stock options to eligible employees of its subsidiary company under the DGML SIP 2024 plan. Each option converts into one equity share with a face value of INR 1, and the exercise price is set at Rs. 20 per option. The total ESOP plan allows for 8 million options. As of now, no options have vested or been exercised, and 30,000 options have already lapsed. The scheme complies with SEBI's Share Based Employee Benefits and Sweat Equity Regulations, 2021.
The stock option grant ties employee interests to company performance, which could boost operational focus. At full exercise, this represents potential dilution of 7.5 lakh shares at Rs. 20 each, though no immediate impact as options are not yet vested.