Updates

This is to inform you that the Nomination and Remuneration Committee of the Board of Directors of the Company which has been authorised in this regard, at its meeting held today i.e. 10 May 2017 have granted 2,25,000 Options under Magma Employee Stock Option Plan 2007 (MESOP 2007) and 3,00,000 Restricted Stock Options (‘Awards) under Magma Restricted Stock Option Plan 2014 (MRSO Plan 2014) to the eligible employees of the Company. The grant of the above Options and Awards are in line with SEBI (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999 as amended from time to time and with corresponding provision of the SEBI (Share Based Employee Benefits) Regulations, 2014. These stock options and awards shall vest as per the vesting schedule and can be exercised over the exercise period as approved by the Nomination & Remuneration Committee of the Board.

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