Bartronics India - Outcome of EGM
Bartronics India Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company held on February 25, 2008 inter alia, have accorded the following:
1. The Board of Directors of the Company (”the Board”, which term shall be deemed to include any Committee including the Compensation Committee constituted by the Board to exercise its powers, including the powers conferred by this resolution) to amend the vesting schedule to enable 100% vesting at the end of the first year for the stock options granted by the Company to the employees under ESOS 2007, subject to necessary provisions & approvals.
2. Authority to the Board to implement the proposed Employees Stock Option Scheme-2008 (ESOS 2008) whose main features are provided in the Explanatory Statement and to create, offer, issue and allot in various tranches, under the said proposed ESOS-2008, at any time during the currency of the proposed ESOS-2008 to or for the benefit of employees, who are in permanent employment, including Directors and employees of the subsidiary Companies situated either in India or outside India, of the Company, whether working in or outside India, such number of equity shares arising on exercise of options issued under the said proposed ESOS-2008 and/or equity linked instruments including options and / or any other instrument or securities which could give rise to the issue of equity shares (”Securities”) of the Company, not exceeding 2,81,951 (Two lakhs eighty one thousand nine hundred and fifty one only) Options in aggregate where one option is exercisable into one equity share of the Company at such exercise price and on such terms and conditions as may be fixed or determined by the Board in accordance with the Guidelines or other applicable provisions of the law as may be prevailing at that time, subject to necessary provisions & approvals.
3. Authority to the Board to implement the proposed Employees Stock Option Scheme-2008 (ESOS 2008), to create, offer, issue and allot in various tranches, under the said proposed ESOS-2008, at any time during the currency of the proposed ESOS-2008 to or for the benefit of employees, who are in permanent employment, including Directors and employees of the subsidiary Companies situated either in India or outside India, of the Company, whether working in or outside India, such number of equity shares arising on exercise of options issued under the said proposed ESOS-2008 and / or equity linked instruments including options and / or any other instrument or securities which could give rise to the issue of equity shares (”Securities”) of the Company, not exceeding 3,18,049 (three lakhs eighteen thousand and forty nine only) Options in aggregate (exceeding 1% of the issued and paid up equity share capital of the Company) where one option is exercisable into one equity share of the Company at such exercise price and on such terms and conditions as may be fixed or determined by the Board in accordance with the Guidelines or other applicable provisions of the law as may be prevailing at that time, subject to necessary provisions & approvals.
4. Authority to the Board to implement the proposed Employees Stock Option Scheme-2008 (ESOS 2008), to create, offer, issue and allot in various tranches, under the said proposed ESOS-2008, at any time during the currency of the proposed ESOS-2008 to or for the benefit of employees, who are in permanent employment, including Directors and employees of the Company whether working in or outside India, such number of equity shares arising on exercise of options issued under the said proposed ESOS-2008 and / or equity linked instruments including options and / or any other instrument or securities which could give rise to the issue of equity shares (”Securities”) of the Company, not exceeding 3,50,000 (Three lakhs fifty thousand only) Options in aggregate where one option is exercisable into one equity share of the Company at such exercise price and on such terms and conditions as may be fixed or determined by the Board in accordance with the Guidelines or other applicable provisions of the law as may be prevailing at that time, subject to necessary provisions & approvals.
5. Revision of remuneration of Shri. Sudhir Rao, Managing Director with effect from January 01, 2008 to December 31, 2008 on terms & conditions.
Tags: Bartronics India