Matrix to set up ESOP Trust

Matrix Laboratories Limited, a unit of US-based drugmaker Mylan Inc, has decided to amend its employee stock option plans (ESOP) and set up an ESOP Trust for which it intends to allot 1.83 million equity shares of the company.

The Hyderabad-based company informed stock exchanges on Tuesday that it has convened an extraordinary general meeting on May 30 to seek shareholders’ approval in this regard.

Mylan currently holds 71.16 percent stake in Matrix through MP Laboratories (Mauritius) Ltd, while company's founder N Prasad’s holding is 4.97 per cent.