Ganesh Housing Corporation Grants 998815 Stock Options under ESOP 2010

Ganesh Housing Corporation Ltd has announced that in terms of Special Resolution passed by the Members of the Company at its Extra Ordinary General Meeting held on October 30, 2010, the Compensation Committee of Directors of the Company at its meeting held on November 01, 2010 has approved the Employee Stock Option Plan - 2010. Further, the Committee has also granted 9,98,815 options under ESOP 2010 giving right to option grantees to subscribe to the extent of 9,98,815 equity shares of Rs 10/- each of the Company.

The Options would vest based on the specified criteria. The Vesting Period would range between one to seven years from the date of the Grant and the Exercise Period would extend up to three years from the date of Vesting.

The Options not vested in the specified Vesting Period on account of not meeting the specified criteria and the Options vested but not exercised within the specified Exercise Period will lapse.

The stock was trading at Rs.254, up by Rs.2.70 or 1.07%. The stock hit an intraday high of Rs.254.05 and low of Rs.251.

The total traded quantity was 2569 compared to 2 week average of 9113.

Source : Equity Bulls

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