TMI BlogListingX X X X Extracts X X X X X X X X Extracts X X X X ..... hen ESOS/ ESPS are exercised the company has notified the concerned Stock Exchanges as per the statement as per Schedule VI.] [2] [22.2 The shares arising after the IPO, out of options granted under any ESOS framed prior to its IPO shall be listed immediately upon exercise in all the recognised stock exchanges where the equity shares of the company are listed subject to compliance with [3] [SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009] and, where applicable, clause 22.2A.] [4] [22.2A (1) No listed company shall make any fresh grant of options under any ESOS framed prior to its IPO and prior to the listing of its equity shares (hereinafter in this clause referred to as pre-IPO scheme ) unless: (i) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the holding company shall disclose the payment or receipt, as the case may be, in the notes to accounts to their financial statements.] [12] [22.8 The Company shall appoint a registered Merchant Banker for the implementation of ESOS and ESPS as per these guidelines till the stage of framing the ESOS/ESPS and obtaining in-principal approval from the stock exchanges in accordance with clause 22.1 (b).] [13] [22A. ESOS / ESPS through Trust Route: [14] [22A.1 In case of ESOS/ESPS administered through a Trust, the accounts of the company shall be prepared as if the company itself is administering the ESOS/ESPS.]] ******* [1] Substituted vide circular no. SEBI/PMD/MBD/ESOP/2/2003/30/06 dated June 30, 2003, for all ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or allotted under ESPS, to sell their shares within three(3) months after the date of listing of shares in such initial public offering (aggregate number of shares intended to be sold by option holders) to be disclosed. In case of ESOS the same shall be disclosed regardless of whether the shares arise out of options exercised before or after the initial public offering. b) Specific disclosures about the intention of sale of ESOS or ESPS shares within three (3) months after the date of listing, by directors, Senior Managerial personnel and employees having ESOS or ESPS shares amounting to more than 1 % of the issued capital (excluding outstanding warrants and conversions), which inter-alia shall include name, designation and quantum of E ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2009/03/09 dated September 3, 2009, the following: make application to the Central Listing Authority as per SEBI (Central Listing Authority) Regulations, 2003 and . [7] Omitted clause 22.4 vide circular no. SEBI/CFD/DIL/ESOP/5/2009/03/09 dated September 3, 2009. Prior to its omission, clause 22.4 was substituted vide circular no. SEBI/CFD/DIL/ESOP/3/2004/22/7 dated July 22, 2004, for all initial public offer documents filed on or after July 22, 2004 and read as under: The provisions relating to lock-in of pre-IPO shares specified in SEBI (Disclosure and Investor Protection) Guidelines, 2000 shall not be applicable to the shares allotted to employees other than promoters before the IPO under a pre-IPO ESOS / ESPS, subject to compl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 22/7 dated July 22, 2004, for all accounting periods commencing on or after July 22, 2004. [12] Substituted vide circular no. SEBI/CFD/DIL/ESOP/3/2004/22/7 dated July 22, 2004, as a clarification to clause 22.8. Prior to its substitution, clause 22.8, as inserted vide circular no. SEBI/PMD/MBD/ESOP/2/2003/30/06 dated June 30, 2003, for all ESOS/ESPS approved on or after June 30, 2003, read as under: 22.8 The Company shall appoint a registered Merchant Banker for the implementation of ESOS and ESPS as per these guidelines. [13] Inserted vide circular no. SEBI/PMD/MBD/ESOP/2/2003/30/06 dated June 30, 2003, for all accounting periods commencing on or after June 30, 2003. [14] Substituted vide circular no. SEBI/CFD/DIL/ESOP/3/2004 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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