Mahindra CIE Automotive Ltd grants 350,000 stock options

The Board of Directors of Mahindra CIE Automotive Ltd, on the recommendation of Nomination and Remuneration Committee, at its meeting held on December 12, 2016 (meeting commenced at 3.30 p.m. and concluded at 5.30 p.m.) granted, 350,000 (Three Lacs Fifty thousand) Stock Options as per the ESOS-2015, convertible into equivalent number of equity shares of the Company of face value of Rs. 10/- each, at an exercise price of Rs. 150/- per option.

The Stock Options so granted, shall vest in 3 equal installments on December 12, 2017, December 12, 2018 and December 12, 2019. The options so vested under each of the installments, can be exercised within a period of 4 years from the relevant vesting date.

The Grant of options and the ESOS-2015 is in compliance with SEBI (Share Based Employees Benefit) Regulations, 2014.

Shares of Mahindra CIE Automotive Limited was last trading in BSE at Rs.184.05 as compared to the previous close of Rs. 187.55. The total number of shares traded during the day was 5452 in over 212 trades.

The stock hit an intraday high of Rs. 189.95 and intraday low of 184. The net turnover during the day was Rs. 1020150.

Source : Equity Bulls

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