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| Exchange Disseminated Time | Idea Cellular Ltd has informed BSE that the ESOS Compensation Committee of the Board of Directors of the Company has passed a resolution through circular dated February 11, 2014 for :
1. Grant of 1,85,65,428 Stock Options ("Options") to the eligible Employees of the Company, under the "Employee Stock Option Scheme-2013" (ESOS-2013), at an exercise price of Rs. 126.45 per Option, each Option being convertible into one Equity Share of the Company upon vesting; and
2. Grant of 81,05,587 Restricted Stock Units ("RSU") to the Eligible Employees of the Company, under the "Employee Stock Option Scheme-2013" (ESOS-2013), at an exercise price of Rs. 10/- per RSU, each RSU being convertible into one Equity Share of the Company upon vesting.
Subject to the Securities and Exchange Board of India (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999 and the terms of the ESOS - 2013, the Options shall vest in 4 equal annual installments commencing from end of first year from the date of grant and all RSUs shall vest after end of third years from the date of the grant, both if which shall be exercisable within a period of 5 years from the date of vesting. |
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