Marico allots 29000 shares under ESOP

Marico Ltd has announced that the Corporate Governance Committee of the Board of Directors of the Company held on June 19, 2009, has allotted 29,000 equity shares of the Company of the face value of Re 1 each under the existing Marico Employees Stock Options Scheme 2007 (ESOP Scheme).

Consequent to the above allotment, the paid-up share capital of the Company has increased from 60,90,00,000 equity shares of Re 1/- each aggregating Rs 60,90,00,000 to 60,90,29,000 equity shares of Re 1/- each aggregating Rs 60,90,29,000.

The Board approved grant of 88,800 (Eighty Eight Thousand Eight Hundred only) number of Stock Options to certain eligible employees pursuant to ESOP scheme of the Company.

The Grant price is Rs 70.30 per option. The Vesting period and the Exercise Period both range from 1 year to 5 years.

In all, 1,03,15,000 options, comprising about 1.69% of Rs 60,90,29,000 (being the current paid up equity capital of the Company) have been granted under the Scheme till date. This is within the overall limits approved under the Scheme.

The stock closed the day at Rs.71.90, up by Rs.0.45 or 0.63%. The stock hit an intraday high of Rs.75.90 and low of Rs.71.20.

The total traded quantity was 190641 compared to 2 week average of 133768.

Source : Equity Bulls

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