26 December 2006
Grasim
Grasim Industries - Employee Stock Option Scheme - 2006 12/26/2006Grasim Industries Ltd has informed that at the meeting of the Board of Directors of the Company held on December 07, 2006, the Board considered and approved formulating an Employee Stock Option Scheme - 2006 ("ESOS 2006") for granting options to eligible employees of the Company and constituted a Compensation Committee for the purposes of implementing, administering and supervising the ESOS 2006 in accordance with the provisions of the Securities and Exchange Board of India (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999.
Accordingly, subject to the requisite approval of the shareholders, the Board also granted its approval under section 81(1A) of the Companies Act, 1956 and other applicable provisions for granting, offering and issuing in one or more tranches, to such eligible employees of the Company as may be decided by the Compensation Committee not more than 2,75,000 equity shares of the Company being 0.30% of the paid-up equity share capital of the Company on the terms and conditions as mentioned in the ESOS - 2006 to be formulated
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by erectusplus at 13:44:00 |
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