NOCIL Ltd: Grant of options under Employees Stock Options (ESOS)

NOCIL Ltd has informed BSE that Remuneration Committee of the Board of Directors at its meeting held on March 23, 2011 has granted 9,73,000 Stock Options under the Company's Employees Stock Options (ESOS) w.e.f. April 01, 2011 to certain Senior Managerial personnel of the Company. The details of options granted are as follows:

1. No. of Stock Options granted w.e.f. April 01, 2011: 9,73,000
2. No. of Equity Shares covered by such Stock Options: 9,73,000
3. Exercise price: Rs. 16.65 (closing price of the previous day of grant of Options i.e. March 31, 2011)
4. Vesting period: To be vested in 4 equal annual installments beginning at the end of one year from the date of grant.
5. Exercise period: Exercise period would commence one year from the date of grant and will expire on completion of 10 years from the date of grant of options.

Stock Options have been granted as per terms and conditions of ESOS.