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Outcome of board meeting of Greaves Cotton

Capital Market 

Held on 20 September 2019

The Board of Greaves Cotton at its meeting held on 20 September 2019 has approved the following -

1. Reclassification of Authorised Share Capital of the Company from existing Share Capital of Rs. 75,00,00,000 divided into 25,00,000 Redeemable Preference Shares of Rs.100 each and 25,00,00,000 Equity Shares of Rs. 2 each to Rs. 75,00,00,000 divided into 37,50,00,000 Equity Shares of Rs. 2 each.

2. Employee Stock Option Scheme - 2019, formulated with the authority to create and grant from time to time, in one or more tranches, up to a maximum of 20,00,000 equity shares of face value of Rs. 2 each to the eligible employees of the Company, its holding and subsidiary companies as may be decided by the Nomination and Remuneration Committee in terms of SEBI (Share Based Employee Benefits) Regulations, 2014.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, September 25 2019. 11:05 IST