Lloyds Metals has approved the allotment of 5,87,818 equity shares under its Employee Stock Option Plan 2017 at ₹4 per share. Additionally, the company approved the conversion of 1,52,68,950 warrants into equity shares, raising ₹7,34,43,64,950. This conversion increases the issued and paid-up equity share capital to ₹54,43,59,038. These decisions reflect the company’s ongoing efforts to strengthen its capital base and reward its employees.
ESOP Allotment Approved
The Board has approved the allotment of 5,87,818 equity shares under the Lloyds Metals and Energy Limited Employee Stock Option Plan 2017. These shares, with a face value of ₹1 each, were allotted to the Lloyds Employees Welfare Trust at ₹4 per equity share, which includes a premium of ₹3. This action is in accordance with the company’s commitment to employee benefits and long-term value creation.
Warrant Conversion Update
Further to the announcement on September 18, 2024, the company has converted 1,52,68,950 warrants into an equal number of equity shares. This conversion was initiated after warrant holders exercised their option, contributing to a capital raise of ₹7,34,43,64,950.
Impact on Share Capital
Following these allotments and conversions, the issued and paid-up equity share capital of the company now stands increased to ₹54,43,59,038, divided into 54,43,59,038 equity shares. These shares rank equally with existing equity shares concerning dividend and voting rights.
Details of Warrant Conversions
The warrant conversions involved both promoters and non-promoters. Key allottees include Lloyds Enterprises Limited and Sky United LLP. The conversion price was set at ₹740 per share, with the balance subscription amount received being ₹481 per warrant. This capital injection strengthens the company’s financial position.
Employee Stock Option Scheme 2024
The Board also approved a grant of 1,60,000 Employee Stock Options under the “Lloyds Metals and Energy Employee Stock Option Scheme – 2024”. The exercise price for these options is determined to be ₹4 per option, with a vesting period of at least one year from the grant date.
Source: BSE
