Updates on Allotment of Ordinary Shares to Mahindra & Mahindra Employees Stock Option Trust ("the Trust")

Mahindra & Mahindra Ltd has informed BSE that with reference to the earlier announcement dated January 27, 2011 in respect of the allotment of 1,73,53,034 Equity Shares to the Trust, representing 3% of the paid-up capital of the Company as on March 31, 2010. The Company had in November, 2001 allotted Equity Shares aggregating 5% of the paid-up capital as on March 31, 2000 to the Trust.

The Trust will grant options in respect of these Shares to the Eligible Employees over a period of time. When the options are granted, the amortisation to the Profit and Loss Account of the Company will be spread over the vesting period, which presently is envisaged at 5 years. The amortisation in respect of options granted will not have any negative impact on the Cashflow of the Company or its networth.

Source : BSE - >www.bseindia.com

Published on January 29, 2011
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