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Orchid Chemicals & Pharmaceuticals Ltd has informed the BSE that the resolution for revision of the price under ESOP will be done by a postal ballot. It has been decided to revise the price at which 8,64,500 options out of the 9,01,000 options granted on October 28, 2010, to employees in grade of General Manager and above under the Orchid-ESOP 2010 Scheme, pursuant to the Special Resolution passed at the AGM on July 21. The revised price of each share upon exercise of option shall be Rs 166.15 per share, as determined at the meeting on November 21. The results of the postal ballot will be declared on December 8.
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