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Grant of Stock Options under ESOS - 2014

| Updated on October 09, 2014 Published on October 09, 2014

Housing Development Finance Corporation Ltd has informed BSE that the Nomination & Remuneration Committee of Directors of the Corporation has approved the grant of stock options under ESOS- 14, in accordance with the special resolution passed at the 37th annual general meeting held on July 21, 2014.

The said Options have been granted at the market price as defined in SEBI (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999, as amended. Each option upon exercise would be entitled for allotment of 5 equity shares of Rs. 2 each of the Corporation. The Shareholders had authorized the Board to grant the said Options in terms of the special resolution passed at the said annual general meeting.

Subject to fulfilling the conditions specified in ESOS - 14, the options would vest over a maximum period of 3 years. The exercise period in respect of the said Options shall be 5 years from the date of vesting.

Source : BSE - www.bseindia.com

Published on October 09, 2014
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