Source - RNS
RNS Number : 6200I
Housing Development Fin. Corp. Ltd.
20 June 2017
 

Ref. No.: SE/2017-18/90

 

June 20, 2017

 

BSE Limited                                                                 National Stock Exchange of India Limited

P. J. Towers                                                                 Exchange Plaza, C-1,

Dalal Street                                                                   G Block, Bandra Kurla Complex

Mumbai 400 001                                                          Bandra (East), Mumbai 400 051

 

Kind Attn: Sr. General Manager                                  Kind Attn: Head - Listing
DCS - Listing Department
 

Dear Sirs,

 

Sub: Grant of Stock Options under Employees Stock Option Scheme - 2017 (ESOS - 2017)

 

In terms of applicable provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and other applicable circulars, we wish to inform you that Nomination and Remuneration Committee of Directors of the Corporation at its meeting held on June 1, 2017 has approved the grant and allocation of 4,26,01,977  stock options representing 4,26,01,977 equity shares of ` 2 each, to its eligible employees and directors, under ESOS - 2017 and today, i.e., on June 20, 2017, has approved the detailed allocation of the said options.

 

Details of the grant of stock options are provided herein below:

 

a)

Brief details of options granted

4,26,01,977 stock options granted to the eligible employees and directors of the Corporation. Independent Directors are not eligible for the stock options.

 

Each option upon exercise would be entitled for allotment of one equity share of ` 2 each of the Corporation.

b)

Whether the scheme is in terms of SEBI (Share Based Employees Benefits) Regulations, 2014

Yes

c)

Total number of shares covered by these options

4,26,01,977 equity shares of ` 2 each of the Corporation.

d)

Pricing formula

The said stock options have been granted at the market price as defined in SEBI (Share Based Employees Benefits) Regulations, 2014.

e)

Options vested

Subject to fulfilling the conditions specified in ESOS-2017, the options would vest within a period ranging from a minimum of 1 year to 3 years and 1 month.

f)

Time within which option may be exercised

The said options vested will have to be exercised within 5 years from the date of respective vesting.

 

 

We request you to kindly take note of the same.

 

Thanking you,

 

Yours faithfully,

For Housing Development Finance Corporation Ltd.

 

 

 

Ajay Agarwal

Company Secretary

 

Cc:  London Stock Exchange,

10, Paternoster Square,

London, EC4M7LS

 


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