ICRA Updates on ESOS

ICRA Ltd has announced that the ESOS Compensation Committee of the Company in its meeting held on March 24, 2007 granted Options to the Eligible Employees of the Company and its Subsidiary Companies. 40% Options (excluding Options lapses) were vested on March 24, 2008, 30% options (excluding Options lapsed) on March 24, 2009. As per Clause no. 7.5 of the Employees Stock Option Scheme, 2006 (ESOS 2006) of the Company, the vested Options shall become available for exercise in whole or in installments over a period of time ending later than 5 years from the date of vesting (i.e. Exercise Period).

In accordance with the ESOS 2006, an eligible Optionees has submitted their requests in the month of September 2010 for exercise of Options vested to them on March 24, 2008, March 24, 2009 and March 24, 2010 along with the exercise price. After receiving the exercise amount, the ICRA Employees Welfare Trust has transferred Equity Shares of ICRA Ltd in the month of Sepember 2010 to the Said Optionees who has exercised their options.

The stock closed the day at Rs.1234.60, down by Rs.12.85 or 1.03%. The stock hit an intraday high of Rs.1244.90 and low of Rs.1226.65.

The total traded quantity was 887 compared to 2 week average of 2803.

Source : Equity Bulls

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