Oracle Financial Services Software allots 250 equity shares

Oracle Financial Services Software Ltd has announced that the Board of Directors of the Company at its meeting held on August 25, 2010, allotted 250 equity shares of face value of Rs.5/- each to eligible employees of the Company who exercised their stock options under the Employee Stock Option Scheme, 2002. These shares are pari passu with the existing equity shares of the Company, in all respects.

With this allotment, the paid up capital of the Company increased to Rs. 419,418,885 divided into 83,883,777 equity shares of Rs 5/- each.

Further, the Board of Directors approved the ESOP 2010 Scheme with 6,18,000 options and pursuant to the Scheme granted them to the eligible employees and directors of the Company and its subsidiaries at an exercise price of Rs. 2,050/- per option (being the closing price of equity shares of the Company on August 24, 2010 on the National Stock Exchange of India Limited where the trading volume was the highest).

The above options have vesting period of 5 years from the date of grant in the ratio of 20% per year. The said options carry the right to apply for equivalent number of equity shares of the Company of face value of Rs.5 each. The said options shall be exercisable within a period of 10 years from the date of grant.

The stock was trading at Rs.2090, up by Rs.43.20 or 2.11%. The stock hit an intraday high of Rs.2105 and low of Rs.2041.

The total traded quantity was 13082 compared to 2 week average of 8382.

Source : Equity Bulls

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