|
Salzer Electronics announced that the Company's Employees Compensation Committee at its Meeting held on 12 August 2016, approved the allotment of 57,000 Equity Shares of Rs.10/- each at a grant price of Rs.40/- to the Employees upon exercise of stock options under "Salzer Employees Stock Options Scheme 2012-13" subject to the following terms:-
- The shares shall carry lock-in period of two years from the date of allotment of shares. Accordingly, the concerned employees are not entitled for sale / transfer during the Lock in period.
- The employees cannot create any encumbrances / pledge on the shares allotted against the options during the lock-in period and
- The Shares shall rank pari-passu in all respects with the existing shares of the Company and the dividend declared, if any, from the date of allotment in the current financial year 2016-17
Following the above allotment of 57,000 Equity Shares, the paid up Share Capital of the Company stands increased from Rs. 13,74,46,870/- comprising of 1,37,44,687 equity shares of Rs. 10/- each to Rs. 138016870/- comprising of 1,38,01,687 equity shares of Rs. 10/- each.
|