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| Exchange Disseminated Time | V-Guard Industries Ltd has informed BSE that the shareholders of the Company by way of postal ballot resolution dated May 14, 2013, approved grant of 11,20,000 stock options to eligible employees and subsequently, Compensation Committee of the Board of Directors of the Company in their meeting held on June 11, 2013, has approved the grant of 9,17,322 Stock Options to eligible employees of the Company, in terms of Employee Stock Option Scheme 2013 ("ESOS - 2013"). The said options carry the right to apply for equivalent number of equity shares of the Company of face value of Rs. 10/- each, the brief terms of which are as under:
1. Vesting: The options shall vest over a period of 3 years and not later than four years on the basis of time and performance.
2. Exercise period: 6 years from the date of vesting of options.
3. Exercise price: Rs. 485/- per share for 7,01,184 number of stock options.
4. Exercise price: Rs. 10/- per share for 2,16,138 number of stock options. |
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