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| Exchange Disseminated Time 29/12/2016 16:43:15 | PVR Ltd has informed BSE that Mr. Ajay Bijli, Chairman and Managing Director of the Company, had entered into the following reward agreements; (i) reward agreement dated March 08, 2013 read with the amendment letter thereto dated March 24, 2015 with Multiples Private Equity Fund I Limited; (ii) reward agreement dated March 06, 2013 read with amendment letter thereto dated March 24, 2015 with Multiples Private Equity Fund (collectively with Multiples Private Equity Fund I Limited referred to as “Multiples”); and (iii) reward agreement dated April 29, 2013 executed with L Capital Eco Limited (now known as Ecosys Limited) (“L Capital”). The aforementioned reward agreements are collectively referred to as “Reward Agreements” and Multiples and L Capital are collectively referred to as “Funds”.
Pursuant to the Reward Agreements, the Funds set up reward mechanism to incentivize Mr. Bijli for exceptional performance, where such incentive was linked to the creation of shareholder value as reflected by the share price of the Company.
None of the above mentioned Reward Agreements are currently subsisting. The Reward Agreement with L Capital terminated on August 25, 2015. The Reward Agreements with Multiples were terminated on December 19, 2016. |
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