Enclosed Outcome of Board Meeting to consider and approve allotment of Equity Shares to Newgen ESOP Trust and Newgen RSU trust.
NEWGEN · price
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Newgen Software Technologies' Board approved allotment of 192,215 equity shares (face value Rs.10 each) to employee benefit trusts under three schemes: ESOP 2014 (30,149 shares), ESOP 2022 (94,000 shares), and RSU 2021 Scheme (68,066 shares). Shares were allotted at various exercise prices ranging from Rs.10 to Rs.307.50 per share. Following the allotment, the company's paid-up share capital increased from Rs.142.31 crore to Rs.142.51 crore. The new shares will rank pari passu with existing equity shares.
This is a routine corporate action related to employee stock ownership plans and has no direct impact on retail shareholders. The slight increase in share capital marginally dilutes existing shareholder value, though the impact is negligible given the small number of shares relative to total capital.