India Cements offers stock option for employees

By NT Bureau Published on Mar 16, 2017 05:00 PM IST

Chennai: India Cements Ltd has come out with a stock option scheme for its employees. A press note said that the scheme will come into effect on 1 April 2017 and the option granted under the scheme will vest with the employees on 1 April, 2018.

The company has said that the employees should exercise the vested options within one year from the date of vesting. Upon exercising this option, they will be allotted assigned equity shares at Rs 50 a share of the face of Rs 10.

The stock option scheme has since been approved by the Compensation Committee of the board of directors at a meeting held. It is in conformity with the SEBI (Share-Based Employee Benefi ts) Regulations, 2014.