REG - Housing Dev Fin Corp - Grant of Stock Options (ESOS - 2017) <Origin Href="QuoteRef">HDFC.NS</Origin>

Housing Development FinanceAnnouncement

20/06/2017 13:00

RNS Number : 6200I
Housing Development Fin. Corp. Ltd.
20 June 2017
Ref. No.: SE/2017-18/90
June 20, 2017
BSE Limited National Stock Exchange of India Limited
P. J. Towers Exchange Plaza, C-1, 
Dalal Street G Block, Bandra Kurla Complex
Mumbai 400 001 Bandra (East), Mumbai 400 051
Kind Attn: Sr. General Manager Kind Attn: Head - Listing 
DCS - Listing Department
Dear Sirs,
Sub: Grant of Stock Options under Employees Stock Option Scheme - 2017 (ESOS - 2017)
In terms of applicable provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and other applicable circulars, we wish to inform you that Nomination and Remuneration Committee of Directors of the Corporation at its meeting held on June 1, 2017 has approved the grant and allocation of 4,26,01,977 stock options representing 4,26,01,977 equity shares of ` 2 each, to its eligible employees and directors, under ESOS - 2017 and today, i.e., on June 20, 2017, has approved the detailed allocation of the said options. 
Details of the grant of stock options are provided herein below:
a)
Brief details of options granted
4,26,01,977 stock options granted to the eligible employees and directors of the Corporation. Independent Directors are not eligible for the stock options.
Each option upon exercise would be entitled for allotment of one equity share of ` 2 each of the Corporation.
b)
Whether the scheme is in terms of SEBI (Share Based Employees Benefits) Regulations, 2014
Yes
c)
Total number of shares covered by these options
4,26,01,977 equity shares of ` 2 each of the Corporation.
d)
Pricing formula
The said stock options have been granted at the market price as defined in SEBI (Share Based Employees Benefits) Regulations, 2014.
e)
Options vested
Subject to fulfilling the conditions specified in ESOS-2017, the options would vest within a period ranging from a minimum of 1 year to 3 years and 1 month. 
f)
Time within which option may be exercised
The said options vested will have to be exercised within 5 years from the date of respective vesting.
We request you to kindly take note of the same.
Thanking you,
Yours faithfully,
For Housing Development Finance Corporation Ltd.
Ajay Agarwal
Company Secretary
Cc: London Stock Exchange,
10, Paternoster Square, 
London, EC4M7LS

This information is provided by RNS
The company news service from the London Stock Exchange
  END
IOEBBGDLDUDBGRG