Vascon Engineers Ltd approves grant of 64 lakh stock options

The Board of Directors of Vascon Engineers Ltd at its meeting held on August 11, 2015, have discussed, approved and recommended to the members of the Company, to approve grant of 64,00,000 (Sixty Four Lacs) stock options to the eligible employees of the Company as per the terms and conditions specified in Employees Stock Options Scheme, 2015 ('ESOS, 2015').

The Board of Directors have approved purchase of shares of Sunflower Real Estate Developers Private Limited ('Sunflower') for a consideration of Rs. 1,00,00,000/- (Rs. One Crores only), making Sunflower a subsidiary company of Vascon Engineers Limited.

The Board of Directors of the Company have approved the New Set of Articles of Association of the Company, and the same shall be placed before the Members of the Company, for their approval, in the forthcoming Annual General Meeting of the Company.

Subject to other requisite approvals, the Board of Directors of the Company have approved Change in place and address of Registered Office and Corporate Office of the Company.

Shares of Vascon Engineers Ltd was last trading in BSE at Rs.23 as compared to the previous close of Rs. 23.95. The total number of shares traded during the day was 215065 in over 917 trades.

The stock hit an intraday high of Rs. 24.95 and intraday low of 22. The net turnover during the day was Rs. 5079235.

Source : Equity Bulls

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