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Friday, Sep 20, 2002

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ACC allots ESOP

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MUMBAI, Sept. 19

ASSOCIATED Cement Companies has informed the stock exchanges that 17,000 shares were allotted as stock options to employees under the Employees Stock Option plan 2000.

As a result, the company's paid-up share capital (of Rs 10 each) has increased to 17,08,52,845 crore shares from 17,08,35,845 shares.

The company has also informed that the compensation committee of the board of directors has granted 7,73,300 stock options to certain permanent employees in the management cadre including the Managing Director and whole-time directors.

The allotments are a result of resolutions passed by shareholders at the annual general meeting on July 3, the statement to the exchanges added.

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