Salzer Electronics Ltd approves allotment of 148500 shares

Salzer Electronics Ltd has approved the allotment of 1,48,500 Equity Shares to the Employees upon exercise of equivalent quantum of stock options under 'Salzer Employees Stock Options Scheme 2012-13'.

The shares shall carry lock-in period of two years from the date of allotment of shares. Accordingly, the concerned employee is not entitled for sale / transfer during the Lock in period.

The employees cannot create any encumbrances / pledge on the shares allotted against the options during the lock-in period and the Shares shall rank pari-passu in all respects with the existing shares of the Company and the dividend declared, if any, from the date of allotment in the current financial year 2017-18.

Consequent to above allotment, the present paid-up share capital of the Company Rs. 14,34,81,870 comprising of 1,43,48,187 equity shares of Rs.10/- each would stand increased to Rs. 14,49,66,870 comprising of 1,44,96,687 equity shares of Rs.10/- each.

Shares of SALZER ELECTRONICS LTD. was last trading in BSE at Rs.198.2 as compared to the previous close of Rs. 199.9. The total number of shares traded during the day was 17911 in over 132 trades.

The stock hit an intraday high of Rs. 204 and intraday low of 198.1. The net turnover during the day was Rs. 3568582.

Source : Equity Bulls

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