Relaxo Footwears grants stock options

Under ESOP

Relaxo Footwears announced that the Nomination and Remuneration Committee has granted 15200 option to 4 employees in its meeting held on 25 July 2015.

The Nomination and Remuneration Committee has also confirmed that due to issue of Bonus Shares in the ratio of 1:1 to all the existing shareholders, the fair adjustment of bonus shares was also to be made to all the outstanding options as on date of allotment.

The total number of options given by the Company from the effective date of the RFL ESOP Policy was 266700. However till the date of allotment of bonus shares, 21000 options had lapsed. The outstanding options at the date of allotment of bonus shares were 245700, Pursuant to the Bonus share allotment the Number of outstanding options at the time of Bonus allotment are to be doubled and price is to be halved. Hence the effective outstanding options after the Bonus allotment will be 491400 (including the effect of bonus allotment).

The total outstanding options as on date is 506600 [491400 (after bonus adjustment for all pending options at the time of bonus allotment) + 15200 (Granted after bonus allotment)].

Powered by Capital Market - Live News