3i Infotech Ltd board approves stock option scheme

The Board of Directors of 3i Infotech Ltd at its meeting held on June 29, 2018 has approved the implementation of employee stock option scheme.

The implementation of 3i Infotech Employee Stock Option Scheme 2018 ("Scheme") in accordance with Securities and Exchange Board of India (Share Based Employee Benefits) Regulations, 2014 and applicable law. The Scheme shall be implemented by the Nomination and Remuneration Committee of the Company ("Nomination and Remuneration Committee"). The Scheme envisages granting of stock options to employees of the Company and/or subsidiary companies of the Company / holding company of the Company ("Eligible Employees"), as selected by the Nomination and Remuneration Committee which will entitle them to subscribe to the shares of the Company having face value of INR 10/- ("Equity Shares") at an exercise price of INR 10 (Indian Rupees Ten) per option provided they fulfill the terms and conditions (vesting criteria/period) as may be determined by the Nomination and Remuneration Committee in accordance with the Scheme and applicable law.

The total number of Equity Shares to be allotted pursuant to the Scheme to the Eligible Employees shall not exceed in aggregate 15% (Fifteen per cent) of the aggregate of the number of issued and paid-up equity share capital of the Company from time to time, subject to a maximum of 10,00,00,000 (Ten crore) Equity Shares of the Company having face value of INR 10 (Indian Rupees Ten) per share. If there is any change in the share capital of the Company due to any corporate action, then the number of Equity Shares subject to the Scheme will be adjusted in accordance with the terms of the Scheme and applicable law.

Shares of 3I INFOTECH LTD. was last trading in BSE at Rs.4.18 as compared to the previous close of Rs. 4.32. The total number of shares traded during the day was 946127 in over 563 trades.

The stock hit an intraday high of Rs. 4.64 and intraday low of 4.1. The net turnover during the day was Rs. 4118088.

Source : Equity Bulls

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