Thomas Cook (India) Limited , a leading integrated travel services company, has announced significant amendments to its Employee Stock Option Plans (ESOPs) and is seeking shareholder approval through a postal ballot. The proposed changes aim to enhance the company's ability to attract, retain, and motivate key talent in a competitive market environment.

Key Amendments Proposed

ESOP 2024-EXECOM Pool Expansion

• Increase in the number of stock options from 5.57 million to 6.57 million
• Addition of 1 million new stock options to the existing pool

Vesting Period Reduction

• Reduction in the vesting period from 4 years to 3 years across multiple ESOP schemes
• Applicable to ESOP 2024-EXECOM, ESOP 2018-EXECOM, and ESOP 2013

Extension of Benefits

• Proposal to extend the amended ESOP benefits to employees of subsidiary companies

Voting Details

Rationale for Amendments

The company states that these amendments are designed to:

1. Support long-term growth plans
2. Achieve sustained growth
3. Create shareholder value by aligning employee interests with the company's long-term vision
4. Provide more flexibility in rewarding and retaining talent

Impact on Existing Options

The proposed amendments will not adversely affect any options granted earlier under the original ESOP schemes. Thomas Cook India assures that these changes are not prejudicial to the interests of the current option grantees.

Regulatory Compliance

The company confirms that it will comply with all necessary disclosure and accounting policies as prescribed by the Securities and Exchange Board of India (SEBI) and other relevant authorities.

Conclusion

Shareholders are encouraged to review the detailed postal ballot notice and cast their votes through the e-voting system provided by National Securities Depository Limited (NSDL). The outcome of this vote will be crucial in shaping Thomas Cook India's employee incentive structure for the coming years.

As the travel industry continues to evolve, the company's proactive approach to updating its ESOP schemes demonstrates its commitment to maintaining a motivated and aligned workforce, which could be pivotal for its future growth and competitiveness in the market.

Thomas Cook (India) Limited , a leading omnichannel foreign exchange services provider, has strengthened its presence in Kerala with the launch of a newly designed forex store in Kottayam. This strategic expansion brings the company's total outlet count in the state to 14, enhancing its reach in this key market.

Enhanced Customer Experience

The new store in Kottayam represents a significant upgrade in both design and customer experience:

• Location: Centrally situated for easy access
• Layout: Spacious office design
• Support: Enhanced facilities for customer assistance

Strategic Importance of Kottayam

Kottayam's selection for this new outlet is driven by several factors:

• Diverse Customer Base: Caters to leisure travelers, business professionals, students, and NRIs
• Proximity to Key Areas:
  • Close to Cochin International Airport
  • Near Infopark Kochi
  • Access to tourist hotspot Alappuzha
  • Serves the NRI-rich area of Thiruvalla

Comprehensive Forex Services

The new store offers a wide range of foreign exchange services:

Market Presence and Customer Service

Thomas Cook India's forex business serves over 1 million customers annually through its omnichannel model, which includes:

• 125+ forex stores across 69 cities
• Website and FX Now app
• Dedicated call center
• 'Ghar pe Forex' service with doorstep delivery within 2 hours

Deepesh Varma, Executive Vice President - Foreign Exchange at Thomas Cook (India) Limited, emphasized the strategic importance of Kottayam, stating, "Kottayam is a high-potential source market for our forex services, offering access to a vibrant mix of leisure and business travellers, students and NRIs."

This expansion aligns with Thomas Cook India's commitment to providing accessible and innovative forex solutions across India, catering to the evolving needs of diverse customer segments in the foreign exchange market.

About Thomas Cook (India) Limited

Established in 1881, Thomas Cook (India) Limited is a prominent player in the travel industry, offering a wide range of services including Foreign Exchange, Corporate Travel, MICE, Leisure Travel, and Visa Services. The company has a significant presence across 28 countries in 5 continents, solidifying its position as one of the largest travel service provider networks in the Asia-Pacific region.

Thomas Cook India continues to innovate and expand its services, maintaining its position as a trusted name in the foreign exchange and travel services sector.