The Board of Sequent Scientific has approved the allotment of 15 lakh equity shares to Sequent Scientific Employee Stock Option Plan Trust("Trust"). The said shares allotted to Trust shall be allocated to Employees upon exercise of options vested to them by the Company from time to time.
Consequent to the above allotment, the Paid-up Equity Share Capital of the Company will increase from Rs 49,37,41,990/- (consisting of 24,68,70,995 Fully Paid-up Equity Shares of Rs 2/- each) to Rs 49,67,41,990/- (consisting of 24,83,70,995 Fully Paid-up Equity shares of Rs 2/- each).
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