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United Phosphorus Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company held on April 28, 2008, inter alia, have accorded to the following:

1. Alteration of Articles of Association by inserting enabling clause to issue stock options to employees of the Company.

2. According the consent, pursuant to the provisions of Section 81(1A) and other applicable provisions, if any, of the Companies Act, 1956, to the Board of Directors to issue up to 15,00,000 stock options to the eligible employees of the Company under Employees Stock Option Plan 2008, to give right to the holder to subscribe for one fully paid equity share of Rs 2/- each for each option.

3. According the consent, pursuant to the provisions of Section 81(1A) and other applicable provisions, if any, of the Companies Act, 1956, to the Board of Directors to issue stock options to the eligible employees of the subsidiary Companies within overall limit of 15,00,000 options as mentioned in the resolution no. 2 above.

Tags: United Phosphorus

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