Infosys Limited Outcome of Board Meeting held on July 15, 2016

BANGALORE, India, July 15, 2016 /PRNewswire/ --

TO ALL STOCK EXCHANGES

BSE LIMITED

NATIONAL STOCK EXCHANGE OF INDIA LIMITED

NEW YORK STOCK EXCHANGE

EURONEXT LONDON

EURONEXT PARIS

July 15, 2016

Dear Sir, Madam,

Sub: Outcome of Board meeting 

The Board, at today's meeting, transacted the following items of business:

Financial Results 

1. Took on record the audited financial results of the Company as per Indian Accounting Standards (IND-AS) for the quarter ended June 30, 2016.

1. Took on record the audited consolidated financial results of the Company and its subsidiaries, as per IND-AS for the quarter ended June 30, 2016 and

1. Took on record the audited consolidated financial statements of the Company and its subsidiaries as per IFRS in INR for the quarter ended June 30, 2016.

Other matters

1. Amended the Audit Committee Charter.

1. The Nomination and Remuneration Committee of the Board of Directors of Infosys Limited at its meeting held on July 14, 2016, approved the grant of 1,857,820 RSU's at par value which shall be made on August 1, 2016, to a total of 7,898 eligible and identified high performing employees upto mid level managers of the Company and its subsidiaries under the 2015 Employee Stock Compensation Plan. The RSU's shall vest over a period of four years from the date of grant and shall be exercisable within the period as approved by the committee. Out of these RSU's, a total of 1,515,135 equity shares will be issued out of the existing treasury shares held by the Infosys Employee Benefits Trust and the balance will be in the form of ADR's and Phantom stock rights.

1. In accordance with the postal ballot approved by the shareholders on March 31, 2016, the Nomination and Remuneration Committee of the Board of Directors of Infosys Limited at its meeting held on July 14, 2016, approved the grant of RSU's amounting to $ 2 Million on August 1, 2016 to Dr. Vishal Sikka, CEO and Managing Director. The RSU's are time based and will vest over a period of 4 years subject to continuous service which shall be exercisable within the period as approved by the committee. The exercise price for the grant is equal to the par value of one share per RSU.

The financial results and the audit committee charter will be made available on the Company's website https://www.infosys.com/investors/reports-filings/quarterly-results/2016-2017/q1/.

We are enclosing herewith the financial results and press release for your information and record.

Yours sincerely,

For Infosys Limited

A.G.S. Manikantha

Company Secretary

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