Stocks

MCX fails to get nod for cut in ESOP price

Our Bureau Mumbai | Updated on January 22, 2018

1blMCXCo.eps

Shareholders also disapprove raising the number of directors





The shareholders of Multi Commodity Exchange have voted against two special resolutions moved by the commodities exchange at its AGM held on Tuesday.

The exchange had sought shareholders’ approval to provide a discount of 10 per cent on the exercise price of the stock options granted in November, 2014, under the ESOP (employees’ stock options plan) 2008. The proposal was voted out with 54 per cent of the shareholders voting against the plan and 44 per cent favouring it.

MCX also sought shareholders’ approval to increase the number of directors on the board to 15 from 11 now and moved a proposal to amend the Articles of Association of the bourse, but this was turned down by shareholders.

Nine other proposals were passed by the shareholders.

Published on September 30, 2015

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