Regulator allows promoters to keep or exercise pre-IPO stock options granted over one year before draft filing

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....A securities regulator amended share-based employee benefits rules to add a provision permitting an employee identified as a "promoter" or part of the "promoter group" in an IPO draft to continue to hold and/or exercise previously granted stock options, stock appreciation rights or similar benefits, provided such grants were made at least one year before filing the draft offer document and remain subject to the scheme terms and applicable laws; the amendment takes effect on publication in the Official Gazette.....