Moser Baer Updates on ESOP

With reference to the earlier announcement dated April 30, 2007 regarding allocation of stock options at the meeting of Compensation Committee held on April 30, 2007, Moser Baer India Ltd has announced that due to the typographical error, the maximum number of shares covered by such options were mentioned as "1,98,000" instead of "2,22,000".

Thus, the terms of ESOP scheme should be read as follows:

1. The maximum number of shares covered by such options:- 2,22,000

2. Exercise Price:- Rs 342.50 per share

3. Requirements of Vesting and maximum period of vesting:- The vesting period ranges from 1 year to 4 years.

4. Exercise Period:- 7 years from the date of grant of options.

Source : Equity Bulls

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