Emco Ltd has informed BSE that the ESOP Committee of the Board of Directors of the Company at its meeting held on September 15, 2011 has granted 75,000 options to the eligible employees of subsidiary Company i.e. EMCO Power Limited under the Employee Stock Option Scheme 2011 of the Company. Each option so granted to the eligible employees shall carry a right to subscribe 1 equity shares of the Company upon vesting and payment of pre-determined exercise price to the Company. The said 75,000 options were granted at exercise price of Rs. 52.05 per share i.e. latest available closing market price prior to the grant of options. The said options granted shall be vested over the period of 3 years subject to minimum vesting period of one year from the date of grant. The eligible employee(s) shall be entitled to exercise the options upto a period of 3 years from the date of respective vesting of the options on payment of exercise price.
