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YOU ARE HERE >  Moneycontrol Markets > Announcements Computers - SoftwareAnnouncement - Persistent

29th-Aug-2019 19:42Source: BSE

Persistent Systems - Intimation About Proposed Secondary Market Purchase Of Persistent Shares By ESOP Trust In A Scheduled Manner

Based on the grants made by the Company, the current requirement for creation of sufficient pool of Company shares for honoring exercise of RSUs/ ESOPs being immediately vested under the PESOS 2014 and ESOP 2017 Scheme is 5,00,000 Company shares.

Accordingly, it has been decided to acquire the abovementioned 5,00,000 Company Shares from Secondary Market through ESOP Trust in the following manner:

a.Purchase of shares up to 75,000 shares per week in multiple tranches over the next 3-4 months, except during Trading Window closures
b.Necessary disclosures will be made to the exchanges after every trade as per the SEBI (Prohibition of Insider Trading) Regulations, 2015 and the Company Code of Conduct for this purpose
c.Above Purchase Plan will continue till 5,00,000 Company shares are purchased after adhering to the restrictions on the ESOP Trust as per the SEBI (SBEB) Regulations, 2014.

The above plan of purchase will be executed from Thursday, September 5, 2019.

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