Gujarat Gas Company Ltd has informed BSE that, as authorized by the Compensation Committee, the Company has granted 84,000 stock Options to its employees of its group, w.e.f. April 28, 2011, which gives entitlement in future to equivalent number of existing equity share of the Company in accordance with the Gujarat Gas Company Ltd Employee Stock Option Plan 2008 ("the ESOP 2008").
The applicable exercise price is Rs. 337.00 per equivalent equity share, being calculated at the discount of 10% of the closing price of Rs. 374.00 on National Stock Exchange Ltd and Mumbai Stock Exchange on April 27, 2011.
Further the Company has informed that the equity shares of the Company to be allocated to the grantees of options under the ESOP 2008, will be purchased on behalf of the Grantees by the designated Trustees from the secondary / open market at the ruling market price. Therefore no fresh issue of equity share is involved under the ESOP 2008.Read More
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Sunday, May 01, 2011
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