Tilaknagar Industries Limited has informed that the Compensation Committee of the Board of Directors of the Company has approved the grant of 1,11,000 Stock Options on July 02, 2009 to employees of the Company for their exemplary performance under the Employees Stock Option Scheme - 2008 (ESOS-2008).
Under the Scheme, each option is convertible into one Equity Share (Face Value of Rs 10/- each) of the Company upon vesting, at an Exercise Price which shall not be less than 75% of the average of the high and low of the market price of the equity shares of the Company in 15 days prior to the date of Vesting subject to a minimum Exercise price of Rs. 120/-.
Subject to the provisions of SEBI (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999 and the provisions of ESOS Scheme - 2008 of the Company, the options shall vest after one year of the date of grant and vesting period shall range from one to four years and the said options shall be exercisable within a period of two years from the date of vesting.
Under the Scheme, each option is convertible into one Equity Share (Face Value of Rs 10/- each) of the Company upon vesting, at an Exercise Price which shall not be less than 75% of the average of the high and low of the market price of the equity shares of the Company in 15 days prior to the date of Vesting subject to a minimum Exercise price of Rs. 120/-.
Subject to the provisions of SEBI (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999 and the provisions of ESOS Scheme - 2008 of the Company, the options shall vest after one year of the date of grant and vesting period shall range from one to four years and the said options shall be exercisable within a period of two years from the date of vesting.
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