Nykaa receives shareholder approval on bonus issue and ESOPs
Multi-brand, omni-channel beauty giant Nykaa has secured shareholder approval to issue bonus shares and a Employee Stock Option Plan. The matter was voted on and approved by the board of FSN E-Commerce Ventures Limited, which operates as Nykaa on October 3, the business announced in a press release.
“The Company believes that Bonus Shares will encourage the participation of retail investors in the long term, as well as see a wider shareholding,” said the business in a press release.
“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… have approved the introduction of the Employee Stock Option Plan 2022 and Employee Stock Unit Plan 2022 subject to shareholders’ approval.”
According to the business, it received an overwhelming response from its shareholders with 100% of votes being in favour of the bonus resolution. Moreover, 92% of shareholders voted in favour of the ESOP and 94% voted in favour of the Employee Stock Unit Plan. The new ESOPs and Stock Unit Schemes are intended for the company’s employees and group company employees including of its subsidiaries and associate companies.
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