Employees Stock Options Scheme - 2013 (ESOS - 2013)

UltraTech Cement Ltd has informed BSE that the ESOS Compensation Committee of the Board of Directors of the Company at its meeting held on October 19, 2013 formulated the Employee Stock Option Scheme - 2013 (ESOS-2013).

In terms of ESOS-2013, the Committee has also approved the grant of 237,953 stock options at an exercise price of Rs. 1,965/- per stock options exercisable into the same number of equity shares of Rs. 10/- each and 84,056 restricted stock units at an exercise price of Rs. 10/- each exercisable into the same number of equity shares of Rs. 10/- each to the eligible employees of the Company.

Subject to the Securities and Exchange Board of India (Employees Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999 and the terms of the ESOS - 2013, the stock options will vest in 4 equal installments after one year of the grant and restricted stock Units will vest after three years from the date of grant which shall be exercisable within a period of 5 years from the date of vesting.

Source : BSE - >www.bseindia.com

Published on October 19, 2013
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