INDIA: Bajaj Electricals cancels stock options - 5 May 2009
Consumer
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The above said stock options were granted under to the eligible
employees of the company at various prices under the 'growth plan' of
Bajaj Electricals Employee Stock Option Scheme - 2007.
The company will re-grant 4,66,385 stock options under the 'growth
plan' to the eligible employees at a price of Rs 215.5, stated the
company in a filing to the Bombay Stock Exchange (BSE).
"The stock options so granted, shall vest in the eligible employees
in three tranches beginning from May 1, 2010, the first vesting date.
The options granted under each of the slab, can be exercised by the
grantees within a period of three years from the relevant vesting
date," stated the company.
The company Shares closed at Rs 222, down 0.25 per cent as against its previous close of Rs 222.55 on the BSE.
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