Salzer Electronics allots equity shares

Under ESOP

Salzer Electronics announced that the Company's Employees Compensation Committee at its Meeting held on 12 August 2016, approved the allotment of 57,000 Equity Shares of Rs.10/- each at a grant price of Rs.40/- to the Employees upon exercise of stock options under "Salzer Employees Stock Options Scheme 2012-13" subject to the following terms:-

- The shares shall carry lock-in period of two years from the date of allotment of shares. Accordingly, the concerned employees are not entitled for sale / transfer during the Lock in period.

- The employees cannot create any encumbrances / pledge on the shares allotted against the options during the lock-in period and

- The Shares shall rank pari-passu in all respects with the existing shares of the Company and the dividend declared, if any, from the date of allotment in the current financial year 2016-17

Following the above allotment of 57,000 Equity Shares, the paid up Share Capital of the Company stands increased from Rs. 13,74,46,870/- comprising of 1,37,44,687 equity shares of Rs. 10/- each to Rs. 138016870/- comprising of 1,38,01,687 equity shares of Rs. 10/- each.

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