This is further to our letters dated 14th September 2022 & 27th October 2022 informing that the Board of Directors and Shareholders respectively have approved the Kansai Nerolac Paints Limited - Restricted Stock Unit Plan 2022. We also refer to the in- principle approval granted by BSE Limited on 14th November 2022 and National Stock Exchange of India Limited on 15th November, 2022 for issue and allotment of a maximum of 53,89,197 Equity shares, which are likely to arise out of exercise of options as and when exercised under the Scheme subject to the Company fulfilling the listing conditions.
The Nomination and Remuneration Committee has approved on 31st December 2022, grant of 11,92,792 Restricted Stock Units exercisable into 11,92,792 equity shares of the Company of face value of Re. 1 each fully paid-up to selected employees of the Company as determined by the NRC, in terms of the RSU Plan 2022.
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