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Further to the above-referred intimation, we wish to inform you that the shareholders had approved a resolution at the Annual General Meeting of Persistent Systems Limited ('the Company') held in July 2021 enabling the Company to issue fresh equity shares to the PSPL ESOP Management Trust ('ESOP Trust'), which administers the ESOP Schemes of the Company.
In accordance with the same, the Board of Directors of the Company at its meeting held on Wednesday, March 22, 2023, has inter-alia approved the issuance of 500,000 (Five Hundred Thousand only) Equity Shares of INR 10 each to the ESOP Trust.
As per the resolution referred above, the shares are being issued at the respective exercise price of the underlying options. Accordingly, the allotment price will be INR 2,789 per Equity Share, aggregating to the total consideration of INR 1,394.50M.
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