Board Grants 31000 options under Gravita ESOP Scheme 2011


employee_stock_option_plan

05 July 2012: The Compensation Committee of the Board of Directors of the Company at its meeting held on July 05, 2012 has granted 31000 options to the eligible employees of the Company as well as its subsidiaries under the Gravita ESOP Scheme 2011 of the Company. Each option so granted to the eligible Employees shall carry a right to subscribe one Equity Share of the Company upon vesting and payment of pre-determined exercise price for the options. The said options are granted at exercise price of Rs. 2/- per share i.e. face value per share of the Company.The said Stock Options granted shall be vested over a period of 5 years subject to minimum vesting period of 1 year from the date of grant i.e. July 05, 2012.The Eligible Employees shall be entitled to exercise the options up to a period of 6 years from the date of grant of the options on payment of exercise price.