Thursday Jul 09, 2026
Thursday Jul 09, 2026
Wednesday, 8 July 2026 00:02 - - {{hitsCtrl.values.hits}}
hSenid Business Solutions PLC has proposed a new Employee Share Option Plan (ESOP) covering 3.62 million ordinary shares that remained unallocated under its previous employee share ownership scheme, as the software company seeks to continue incentivising and retaining employees.
The company said its Board had resolved to establish a new ESOP under which eligible employees of hSenid Business Solutions and its subsidiaries, including fixed-term contract staff selected by the Board, would be granted share options over 3,618,580 ordinary shares.
If exercised in full, the new ESOP would result in the issue of shares equivalent to approximately 1.22% of the company’s enlarged issued share capital.
The proposed scheme follows the conclusion of the ESOP approved by shareholders in December 2022, which authorised the company to grant options over up to 10 million shares, representing approximately 3.49% of its post-issue share capital at the time.
Following the issue of 8.56 million new shares through a scrip dividend in 2024, the pool of shares available under the scheme was proportionately increased to 10.31 million shares.
During the option grant period, which ran from 1 April 2023 to 6 December 2025, the company granted options over 6.69 million shares, leaving 3.62 million shares unallocated.
Rather than allowing the balance to lapse, the Board has decided to establish a new ESOP utilising the remaining allocation.
The company said the proposed scheme complies with the Colombo Stock Exchange (CSE) Listing Rules governing ESOPs and will require approval in principle from the CSE for the issue and listing of the new shares, as well as shareholder approval by way of a special resolution at a General Meeting.
As at the date of the announcement, hSenid Business Solutions had a stated capital of Rs. 1.03 billion and 285.34 million issued ordinary shares.
