Tilaknagar Industries Grants 286821 Options under Employee Stock Option Scheme-2008

Tilaknagar Industries Ltd has announced that the Compensation Committee of the Board of Directors of the Company has approved the grant of 2,86,821 Stock options on August 07, 2010 to eligible employees and Non Executive Directors of the Company under the Employee Stock Option Scheme-2008. Under the Scheme, each option is convertible into one Equity Share (Face Value of Rs. 10/- each) of the Company upon vesting, at an Exercise Price which shall not he less than 75% of the average of the high and low of the market price of the shares of the Company quoted on BSE during 15 days prior to the date of Vesting subject to a minimum Exercise price of Rs. 150/-.

Subject to the provisions of SEBI (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999 and the provisions of ESOS Scehme-2008 of the Company, the options shall vest after one year of the date of grant and vesting period shall range from one to four years and the said options shall be exercised within a period of two years from the date of vesting.

The stock was trading at Rs.222.05, up by Rs.22.40 or 11.22%. The stock hit an intraday high of Rs.224.20 and low of Rs.201.

The total traded quantity was 4.14 lakhs compared to 2 week average of 1.16 lakhs.

Source : Equity Bulls

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