SeQuent Scientific's board of directors have approved the introduction of Employee Stock Option Plan Scheme titled ‘SeQuent Scientific Limited Employee Stock Option Plan 2020’, to create and grant stock options not exceeding 1.85cr stock options.
These stock options are each convertible into one (1) equity share of the Company having face value of Rs2 per equity share, subject to the approval of the shareholders of the Company.
Further, the board approves authorized share capital to Rs8cr divided into 40cr equity shares of Rs2 each by creating 15cr additional equity shares and consequent Alteration of Memorandum of Association and Articles of Association of the Company, subject to approval by the Members of the Company.
On Sensex, Sequent finished at Rs170.70 per piece higher by 1.88%.