Kale Consultants Ltd has informed BSE that the Remuneration and Compensation Committee of the Board of Directors of the Company has passed a resolution approving the grant of upto 600,000 options on April 04, 2008 to the employees and non promoter directors of the Company and employees of the subsidiary companies under the Employees’ Stock Option Scheme 2003 (ESOS).

Following are the broad terms of the Scheme:

- Vesting: 50% of the options granted shall vest on completion of one year from the date of grant and the balance 50% of the options granted shall vest on completion of two years from the date of grant.

- Exercise Period: The options shall be exercised within a period of 2 years from the date of vesting.

- Exercise Price: Exercise Price of the options granted is the closing market price on the on the National Stock Exchange of India Ltd on the date of grant.

The shareholders of the Company at the Extra Ordinary General Meeting held on February 06, 2003 passed the resolution for creation, offer, issue and allotment of equity shares and / or equity linked instruments including options, and / or any other instruments or securities to employees and directors (other than promoter directors) of the Company and of subsidiary Companies.