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| Exchange Disseminated Time | With reference to the earlier letter dated May 21, 2015 & May 26, 2015, Britannia Industries Ltd has now informed BSE that
75,000 Stock Options have been granted to Mr. Varun Berry, Managing Director with vesting over 3 years; i.e. 1/3 every year.
Vesting period was wrongly mentioned inadvertently in the aforesaid letters.
To summarize, these Options have been granted subject to the terms and conditions governing the ESOS including the following:
ESOS : 75,000 Stock Options
Vesting period : A minimum period of one year from the date of grant and vesting over 3 years; i.e.1/3 every year.
Exercise price : Rs. 2332.05/- per share. (Market price as at the close of May 20, 2015)
Exercise period : To commence from the date of vesting and to expire not later than 3 years from the date of each vesting. |
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