Emco Ltd approves grant of ESOP under Employees Stock Option Scheme (ESOS) 2011

The ESOP Committee of the Board of Directors of Emco Ltd passed a resolution by circulation on July 29, 2015 whereby the ESOP Committee has granted 7,00,000 (Seven Lacs) options to the eligible employee(s) of the Company under its Employee Stock Option Scheme 2011. Each option so granted to the eligible employees shall carry a right to subscribe 1 equity share of the Company upon vesting and payment of pre-determined exercise price to the Company.

The said options were granted at exercise price of Rs. 30.70 per share i.e. latest available closing market price prior to the date of grant of options.

The options granted to two employees shall be vested after a period of 1, 2 and 3 years respectively from the date of grant in three tranches and options granted to six employees shall be vested after a period of 1, 2, 3 and 4 years respectively from the date of grant in four tranches.

The eligible employee(s) shall be entitled to exercise the said options granted upto a period of 3 years from the date of respective vesting of the options on payment of exercise price.

Shares of EMCO LTD.-$ was last trading in BSE at Rs.30.1 as compared to the previous close of Rs. 30.7. The total number of shares traded during the day was 34165 in over 197 trades.

The stock hit an intraday high of Rs. 31.7 and intraday low of 29.65. The net turnover during the day was Rs. 1054318.

Source : Equity Bulls

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