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| Exchange Disseminated Time | Essel Propack Ltd has informed BSE that the Board of Directors of the Company at its meeting held
December 22, 2014, has approved the following:
1. To implement an ‘Employee Stock Option Scheme' linked to achieving the Company’s future growth plans and to seek shareholders' approval for the same. The Scheme shall not be extended to Promoters and Directors.
2. Notice for conducting Postal Ballot pursuant to section 110 of the Companies Act, 2013 read alongwith Rules framed thereunder for obtaining approval of shareholders for;
a. An Employee Stock Option Scheme for the employees of the Company and its subsidiaries; the Scheme is not applicable to Promoters and Directors.
b. Payment of remuneration to Mr. Ashok Goel, Vice Chairman & Managing Director of the Company in the event of inadequacy of profits during the period of 3 years commencing from October 21, 2013 to October 20, 2016, since the Ministry of Corporate Affairs have requested for a fresh resolution in view of the Companies Act, 2013, coming into force. |
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