Glodyne Technoserve grants 708589 Stock Option under Employee Stock Option Scheme

Glodyne Technoserve Ltd has announced that the Compensation Committee of the Board of Directors at its meeting held on January 13, 2011, has granted 7,08,589 stock options (each option carrying right to apply for one Equity Share of Rs. 10/- each) to the eligible employees of the Company and its subsidiary in accordance with the employee stock option scheme (ESOS 2010) approved by the shareholders.

Against each such stock option, the eligible employees will have right to apply for and get allotted one equity share at a exercise price of Rs. 569.90/- (Rupees Five Hundred and Sixty Nine and paise Ninety Only) being the closing market price on NSE, where the trading volume in the Company's shares was higher, on the last trading day prior to the Meeting of Compensation Committee. The vesting period & conditions for the said options is as prescribed in grant letters.

The stock closed the day at Rs.591.25, down by Rs.12.40 or 2.05%. The stock hit an intraday high of Rs.618.90 and low of Rs.582.10.

The total traded quantity was 0.84 lakhs compared to 2 week average of 0.75 lakhs.

Source : Equity Bulls

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