Hindustan Oil Exploration Company Ltd: Grant of Stock options

Hindustan Oil Exploration Company Ltd has informed BSE that the Board of Directors of the Company have, based on the recommendations of the Compensation and Remuneration Committee granted 17,680 stock options to eligible independent directors.

Details of the options granted are as follows:
1. Number of options granted: 17,680. Each option represents one equity share of Rs 10/- each.
2. Number of ordinary shares covered under the option granted: 17,680 equity shares of Rs 10/-each.
3. Exercise price: Rs NIL per option
4. Vesting of options: The options granted pursuant to the Scheme shall vest on April 1, 2013.
5. Exercise: One year from the date of vesting.

The grants have been made as per the terms and conditions of the Scheme approved by the members.