Vaibhav Gems grants 297500 options

Vaibhav Gems Ltd has announced that pursuant to the Resolution passed by the Shareholders of the Company at the Extra Ordinary General Meeting held on November 30, 2006, the Compensation Committee of the Board of Directors at its Meeting held on January 29, 2010 has granted 2,97,500 Stock Options (convertible into 2,97,500 Equity shares having face value of Rs. 10 each) at a price of Rs. 26.75 per option to eligible employees of the company and its subsidiary as per the terms laid down in "VGL Employee Stock Option Scheme 2006". These Stock Options are to be exercised within a period of 4 years from the date of vesting of options in the manner specified in "VGL Employee Stock Option Scheme 2006"

The stock closed the day at Rs.32.50, down by Rs.0.80 or 2.40%. The stock hit an intraday high of Rs.34.80 and low of Rs.31.65.

The total traded quantity was 2518 compared to 2 week average of 4469.

Source : Equity Bulls

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