APL APOLLO TUBES LTD. - Grant of Stock Options

APL Apollo Tubes Ltd has informed BSE that the Nomination & Remuneration Committee of the Company, at its meeting held on July 28, 2015, has granted 7,24,000 Employee Stock Options under APL Apollo Employee Stock Option Scheme - 2015. Following are the terms of the Plan:-<BR><BR>1. Each option will entitle the holder to 1 Equity Share of the Company, i.e., 7,24,000 Equity Shares in aggregate.<BR><BR>2. These options will vest in the eligible employees over a period of 4 years, commencing after the completion of 12 months from the date of Grant;<BR><BR>3. Vesting is based on performance and employees continuity in the Company;<BR><BR>4. The options shall be exercisable within 5 years from the date of grant;