Aequs Limited has announced the resignation of its Chief Financial Officer, Mr. Dinesh Iyer, who will step down from his role effective June 30, 2026. The resignation was formally submitted on March 24, 2026, citing personal reasons as the primary factor behind the decision.

Regulatory Compliance and Disclosure

The company has fulfilled its regulatory obligations by filing the necessary intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was submitted to both the National Stock Exchange of India Limited and BSE Limited, ensuring compliance with listing requirements.

Transition and Handover Process

In his resignation letter addressed to the Board of Directors, Mr. Iyer confirmed that there are no material reasons for his resignation beyond personal circumstances. He has committed to extending full cooperation during the notice period to ensure a smooth transition and proper handover of his responsibilities.

The outgoing CFO expressed gratitude to the management and Board of Directors for their guidance, support, and trust during his tenure with the company. He acknowledged the privilege of serving Aequs and extended his best wishes for the company's continued success.

Company Information

Aequs Limited, formerly known as Aequs Private Limited, operates with its registered office located at Aequs Tower, Whitefield Main Road, Mahadevapura Post, Bengaluru. The company maintains its corporate office at Aequs SEZ in Hattargi Village, Hukkeri Taluk, Belagavi, Karnataka. The regulatory filing was signed by Company Secretary and Compliance Officer Ravi Mallikarjun Hugar.

Aequs Limited has provided additional clarification on its Employee Stock Option Plan 2025 (ESOP 2025) following feedback from proxy advisors regarding the postal ballot notice dated February 25, 2026. The company addressed specific concerns about the exercise price methodology and vesting criteria that were raised by proxy advisors.

Proxy Advisor Concerns Addressed

The proxy advisors had expressed concerns about the lack of clarity regarding the exercise price, which could range between face value and market price at a significant discount, and the vesting criteria. They specifically noted that the amended scheme did not provide sufficient clarity with respect to exercise price and vesting criteria, allowing the Nomination & Remuneration Committee (NRC) excessive flexibility in determining these parameters.

Exercise Price Methodology Clarified

The company has now clarified that for all grants under ESOP 2025, the exercise price shall be the last traded price of equity shares of Aequus Limited on the recognized stock exchange having the highest trading volume on the trading day immediately preceding the date of grant of options by the NRC. This pricing mechanism ensures market-linked and transparent pricing without permitting arbitrary pricing decisions.

Vesting Structure Details

Aequs follows a combination of time-based and performance-based vesting criteria as per established practice:

Regulatory Compliance Framework

The ESOP 2025 is implemented in strict accordance with the Companies Act, 2013 and the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021. The plan is administered under the supervision of the Nomination and Remuneration Committee, ensuring proper governance and oversight.

Performance Parameters and Flexibility

The performance-based vesting includes achievement of specified thresholds such as revenue, EBITDA, and PAT targets. The NRC retains the authority to include additional performance parameters and may vary, alter, or modify vesting conditions, provided such changes are not detrimental to the interests of grantees. The minimum vesting period is set at 1 year from the grant date, with a maximum period of 7 years.

The clarification was signed by Company Secretary and Compliance Officer Ravi Mallikarjun Hugar on March 23, 2026, and has been made available on the company's website for shareholder access.