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| Exchange Disseminated Time | Financial Technologies (India) Ltd has informed BSE that pursuant to approval of Shareholders’ obtained in the 26th Annual General Meeting of the Company held on September 23, 2014 and as per applicable Clauses of the Listing Agreement, a meeting of Nomination and Remuneration Committee of the Board (“Committee”) of the Company held on October 01, 2014 considered and approved :
1. re-pricing of 5,71,175 unexercised stock options granted under the Employee Stock Option Scheme - 2009, at a 25% discount price at Rs. 167/- (i.e. 25% discount on the closing price of Rs. 223.25 on September 30, 2014 on National Stock Exchange of India Limited recording the highest trading volume in the Company’s equity shares).
2. re-pricing of 5,46,314 unexercised stock options granted under the Employee Stock Option Scheme - 2010, at a 25% discount price at Rs. 167/- (i.e. 25% discount on the closing price of Rs. 223.25 on September 30, 2014 on National Stock Exchange of India Limited recording the highest trading volume in the Company’s equity shares).
The Accounting treatment for the above mentioned both the ESOP Schemes shall be as per SEBI ESOP Guidelines and other applicable laws and an approx. amount of Rs. 6.24 crores would be impacted on the profit and loss Account of the Company, subject to exercise of the above options by the employees of the Company in accordance with the respective ESOP Schemes. |
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