DEWAN HOUSING FINANCE CORPORATION LTD. - Grant of SARs under the Dewan Housing Finance Corporation Ltd - Employee Stock Appreciation Rights Plan 2015 ("DHFL ESAR 2015")
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| 23 Mar 2015 | |
| Dewan Housing Finance Corporation Ltd has informed BSE that subsequent to the approval accorded by the Board of Directors of the Company, at its meeting held on January 16, 2015 and the special resolution passed by the shareholders of the Company on February 23, 2015 by way of postal ballot for approval of Dewan Housing Finance Corporation Limited-Employee Stock Appreciation Rights Plan 2015 and grant of Stock Appreciation Rights (SARs) to the employees of the Company, the Nomination & Remuneration Committee of the Company on March 21, 2015 has approved the grant of 15,50,100 (Fifteen Lakh, Fifty Thousand And One Hundred ) SARs to the eligible employees of the Company, in terms of Dewan Housing Finance Corporation Limited-Employee Stock Appreciation Rights Plan 2015 ("DHFL ESAR 2015"). The said SARs carry the right to apply for number of equity shares of the Company of face value of Rs. 10/- each, equivalent to Appreciation in those rights, the brief terms of which are as under:<BR><BR>1. Vesting: The SARs shall vest over a period of five (5) years.<BR><BR>2. Exercise period: Three (3) years from the date of vesting of SARs.<BR><BR>3. SAR price: Rs 380/- (Rupees Three Hundred and Eighty Only) per SARs, (being calculated after a discount of 20% to closing market price on the exchange having higher trading volume on the day immediately preceding to the date of grant by the Nomination & Remuneration Committee i.e. of March 20, 2015.) | |
| View all announcements for DEWAN HOUSING FINANCE CORPORATION LTD. | Source: BSE India |
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