Transwarranty Finance - Updates on Outcome of EGM
Transwarranty Finance Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company held on April 04 2008, inter alia, have accorded the following:
1. Authority to the Board to create, offer, issue, transfer and allot at any time to or to the benefit of such person(s) who are in permanent employment of the Company, including any Director of the Company, whether whole time or otherwise, options exercisable into not more than 10,00,000 equity shares of the Company of face value Rs 10/- each, under the Scheme titled “Transwarranty Employees Stock Option Plan, 2008″ (”ESOP 2008″) in one or more tranches and on such terms and conditions as may be fixed or determined by the Board in accordance with the provisions of the law or guidelines issued by the relevant Authority, each option being exercisable for one Equity Share of a face value of Rs 10/- each fully paid up on payment of the requisite exercise price, subject to necessary provisions & approvals.
2. Authority to the Board to create, offer, issue and allot at any time to or to the benefit of such person(s) who are in permanent employment of its current subsidiaries namely Transwarranty Capital Pvt Ltd, Transwarranty Forex & Commodities Pvt Ltd, and Transwarranty Credit Care Pvt Ltd any other future subsidiaries of the Company, including any Director of the Company, whether in whole time employment or otherwise, options exercisable into shares or securities convertible into equity shares within the overall ceiling of 10,00,000 Equity Shares of the Company as mentioned in Resolution No. 1 above, under the Scheme titled “Transwarranty Employees Stock Option Plan, 2008″ (”ESOP 2008″), in one or more tranches and on such terms and conditions as may be fixed or determined by the Board in accordance with the provisions of the law or guidelines issued by the relevant Authority; each option would be exercisable for one Equity share of a face value of Rs l0 each fully paid-up on payment of the requisite exercise price, subject to necessary provisions & approvals.
Tags: Transwarranty Finance