JM Financial has granted 445,500 options giving rise to issuance of equivalent number of equity shares of the face value of Rs 10 each to the eligible employees / directors of the company and its subsidiaries. The said options will be vested in the employees in three tranches commencing from the completion of third, fourth and fifth year from the date of grant of options viz., 15 April 2008. The options vested in the employees are exercisable within 7 years from the date of grant of the said options.
The company made this announcement during the trading hours today, 16 April 2008.
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