Board Meeting3 Aug 2026, 06:00 pm
Novus Loyalty Appoints Independent Director, Approves ESOP Plan
AI Summary
Novus Loyalty Ltd announced board approval for the appointment of Mr. Ashish Kumar as Non-Executive, Independent Director for a five-year term, subject to shareholder approval. The board also approved the 'Novus Loyalty Employee Stock Option Plan 2026' (ESOP 2026) covering 15,00,000 equity shares, and an increase in authorized share capital from ₹18 crore to ₹21 crore. Additionally, the company will incorporate a wholly-owned subsidiary in Dubai to support business expansion. An Extra-Ordinary General Meeting (EGM) is scheduled for September 3, 2026, to seek shareholder consent for these proposals. Mohit Singla & Associates has been appointed as the scrutinizer for the EGM's voting process.
Key Highlights
- Independent Director Ashish Kumar appointed, pending shareholder nod.
- ESOP 2026 approved, covering 1.5 million equity shares.
- Authorized share capital to increase from ₹18 Cr to ₹21 Cr.
- Wholly-owned subsidiary to be incorporated in Dubai.
- EGM scheduled for September 3, 2026, for shareholder approvals.
Price Impact
More from NOVUS