Gammon India - Grant of Options
With reference to the earlier announcement January 23, 2008 and as approved by the shareholders of the Company, Gammon India Ltd has informed BSE that the ESOP Compensation Committee of the Board of Directors of the Company at its meeting held on May 15, 2008, has approved granting of 15,00,000 (Fifteen Lakhs only) options to the Employees of the Company (including whole-time Directors and Directors) under the Employees Stock Option Scheme, each option being convertible into one equity share of the Company vesting at a price of Rs 395.75 per share (closing price of the Equity Share - NSE on May 14, 2008), subject to the Securities and Exchange Board of India (Employees Stock Option Scheme) 1999 and the terms of the GIL Employees Stock Option Scheme, 2007. The options will vest based on the criteria and in the manner specified in the Scheme.
Tags: Gammon India