Under ESOS
Mahindra CIE Automotive announced that the Board of Directors of the Company, on the recommendation of Nomination and Remuneration Committee, at its meeting held on 12 December 2016 (meeting commenced at 3.30 p.m. and concluded at 5.30 p.m.) granted, 350,000 (Three Lacs Fifty thousand) Stock Options as per the ESOS-2015, convertible into equivalent number of equity shares of the Company of face value of Rs. 10/- each, at an exercise price of Rs. 150/- per option.The Stock Options so granted, shall vest in 3 equal installments on 12 December 2017, December 12, 2018 and December 12, 2019. The options so vested under each of the installments, can be exercised within a period of 4 years from the relevant vesting date.
The Grant of options and the ESOS-2015 is in compliance with SEBI (Share Based Employees Benefit) Regulations, 2014.
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