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| Exchange Disseminated Time | Essar Shipping Ltd has informed BSE that the members of the Company will consider to approve by way of Postal Ballot the following Special Resolutions.
1. To issue, offer, create and d at any time to or for the benefit of such person who are in permanent employment of the Company including Whole-time Directors of the Company under the ESOS Scheme, stock options equivalent to such number of equity shares which shall not exceed an aggregate of 5% of the paid-up equity shares of the Company, from time to time, on the date(s) of the grant of such options(s) under the ESOS Scheme or such other adjusted figures for any bonus, split, consolidation or other reorganization of the capital structure of the Company as may be applicable from time to time, in one or more tranches, at such price and on such terms and conditions as may be fixed or determined by the Board in accordance with the ESOS Scheme, the ESOS Guidelines and provisions of law as may be prevailing at that time.
2. To extend the benefits of amendments to the ESOS Scheme as proposed under Resolution No.1 contained in this Notice to the employees and. Whole-time Directors of present and any future subsidiary companies and/or
holding company of the Company, on such terms and conditions as may be decided by the Board.
The Board of Directors have appointed Mr. Bhavin Mehta, Partner, M/s. MJP Associates, Practicing Company Secretaries as a Scrutinizer for conducting the Postal Ballot in a fair and transparent manner.
Duly completed the Postal Ballot form should reach in Scrutinizer on or before January 30, 2012. The results of the postal ballot will be announced on February 02, 2012, at the Registered Office of the Company. |
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