P I Industries allots equity shares

Under ESOP

P I Industries announced that members of the Compensation Committee of the Board on 15 October 2015 have approved the following business items by way of circular resolution;

a) Allotment of 551,040 equity shares of Re. 1/- each to PII ESOP Trust (Trust), set up to administer Company's ESOP Plan. The Trust would allocate these equity shares to employees of the Company and its subsidiary on exercise of stock options. The aforesaid equity shares have been Issued at respective exercise price in different grants made to the employees of the Company.

Pursuant to above allotment, the paid up equity share capital of the Company stands increased to 13,71,27,222 equity shares of Re. 1/- each.

b) Grant of 2,72,850 options to various employees eligible under the Company's ESOP Plan at an exercise price of Rs. 613/- which has been calculated by giving 10% discount to the closing market price of the Company's equity share on National Stock Exchange of India on 14 October 2015.

Powered by Capital Market - Live News