Centum Electronics Ltd has informed that the Compensation Committee of the Board of Directors, on May 19, 2009 approved the grant of 88,700 Employee Stock Options to the employees of the Company and its subsidiary, Centum Rakon India Pvt. Ltd. The terms of the options are as below:
1. Each option covers 1 (one) equity share of face value Rs 10/-
2. The option granted to optionee will vest as per the following table:
(i). On completion of one year from the date of Grant of option: 25% of Options vested (ii). On completion of two years from the date of Grant of option: 25% of Options vested (iii). On completion of three years from the date of Grant of option: 25% of Options vested (iv). On completion of four years from the date of Grant of option: 25% of Options vested
3. Exercise Period is the period of ten years from the date of Vesting of the Option.
4. The exercise price for the above grant of options is Rs 31.60 being the closing price of the Companys equity shares on the Bombay Stock Exchange, the Exchange which recorded the highest trading SE on May 15, 2009.
1. Each option covers 1 (one) equity share of face value Rs 10/-
2. The option granted to optionee will vest as per the following table:
(i). On completion of one year from the date of Grant of option: 25% of Options vested (ii). On completion of two years from the date of Grant of option: 25% of Options vested (iii). On completion of three years from the date of Grant of option: 25% of Options vested (iv). On completion of four years from the date of Grant of option: 25% of Options vested
3. Exercise Period is the period of ten years from the date of Vesting of the Option.
4. The exercise price for the above grant of options is Rs 31.60 being the closing price of the Companys equity shares on the Bombay Stock Exchange, the Exchange which recorded the highest trading SE on May 15, 2009.
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