Strong Ltd. is contemplating to introduce Employees Stock Purchase Scheme (ESPS). As a Practising Company Secretary, advise the management on the following issues : (iv) Lock-in-period.

Shares issued under an ESPS shall be locked-in for a minimum period of one year from the date of allotment whereas the ESPS is part of a public issue and the shares are issued to employees at the same price as in the public issue, the shares issued to employees pursuant to ESPS shall not be subject to lock-in.