Interloop Ltd to amend Rules of Employee Share Option Scheme

MG News | September 17, 2020 at 10:00 AM GMT+05:00

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Sept 17, 2020 (MLN): The Board of Directors of Interloop Limited (ILP), in their meeting held on Sept 16, 2020, has decided to amend the Rules of the Employee Share Option Scheme (Scheme) of the company.

However, according to the notice issued by ILP to PSX, it is subject to the approval of the members of the company, by a special resolution at the upcoming AGM & the SECP amid required amendments in the constituting documents and also subject to any amendments that may be required by the SECP or recommended by the company and approved by the SECP.

Consequently, 2,797,450 (two million, seven hundred ninety-seven thousand, four hundred fifty) fully paid & non-listed, Non-Voting Ordinary Shares which have been granted, vested, exercised and/or issued to the Eligible Employees in terms of this Scheme shall be deemed to have been converted to the Ordinary Shares from the date of those requisite approvals, the notice said.

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