MPS Limited 's Board of Directors convened on December 24, 2025, to approve significant corporate changes, subject to shareholder approval. The board sanctioned the re-appointment of independent director Suhas Khullar for a five-year term and the relocation of the company's registered office within Chennai.

Director Re-appointment Approved

Following the recommendation of the Nomination and Remuneration Committee meeting held on December 22, 2025, the board approved the re-appointment of Mr. Suhas Khullar (DIN: 07593659) as Independent Non-Executive Director for a second consecutive term.

The company confirmed that Mr. Khullar is not debarred from holding directorship by SEBI or any other regulatory authority. His professional background spans 20 years across consumer technology startups, private equity, and consulting sectors, including significant roles at EY, Ares India Private Equity Fund, Shuttl, and currently serving as CFO at Loco.

Registered Office Relocation

The board sanctioned the shifting of the company's registered office to a new location within Chennai, maintaining jurisdiction under the same Registrar of Companies.

This relocation represents a strategic move while remaining within the same regulatory jurisdiction, potentially offering operational advantages and improved accessibility.

Postal Ballot Process Initiated

The board approved the Notice of Postal Ballot for both the director re-appointment and office relocation matters. The company appointed Mr. R. Sridharan of M/s. R. Sridharan Associates, Company Secretaries, Chennai (COP No. 3239, FCS No. 4775) as Scrutinizer for conducting the remote e-voting process.

The Notice of Postal Ballot will be circulated to members within prescribed timelines under applicable provisions of law. These decisions reflect the company's commitment to maintaining strong corporate governance and strategic operational planning.

MPS Limited has announced the grant of employee stock options under its ESOS 2023 scheme, marking a significant development in the company's employee compensation strategy. The Nomination and Remuneration Committee of the Board of Directors approved this grant.

ESOP Grant Details

The committee has approved the grant of 28,906 employee stock options to eligible employees under the MPS Limited-Employee Stock Options Scheme 2023. This grant represents a substantial allocation aimed at enhancing employee participation in the company's growth.

Pricing and Valuation Structure

The stock options have been granted at a price of ₹1,996.90 per share. This pricing follows a systematic approach based on market dynamics and regulatory requirements.

Vesting and Exercise Framework

The granted options follow a structured vesting and exercise schedule designed to align employee interests with long-term company performance. The vesting mechanism promotes employee retention while providing flexibility for option exercise.

Regulatory Compliance

The ESOP grant has been executed in full compliance with applicable regulations and disclosure requirements. The scheme operates under the framework established by securities market regulators and follows approved terms and conditions.

Key compliance aspects include:

• Adherence to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
• Compliance with Regulation 30 and Schedule III requirements
• Alignment with SEBI guidelines
• Implementation of terms approved by shareholders under ESOS 2023

MPS Limited has made the requisite disclosures available on its website under the Investors section, ensuring transparency and accessibility for stakeholders. This ESOP grant represents MPS Limited's continued commitment to employee engagement and participation in the company's value creation process.