Welspun Corp Limited - Outcome of Board & Nomination and Remuneration Committee Meeting

Welspun Corp Ltd has informed BSE that the Nomination and Remuneration Committee recommended, and the Board of Directors resolved, at their respective meeting held on December 20, 2014 that the Company, in terms of the board resolution dated April 26, 2012 and the resolution passed by the members of the Company on August 06, 2012 to grant/issue to the Managing Director, Mr. Braja Mishra 2,050,029 Stock Options carrying option to subscribe to 2,050,029 equity shares of Rs. 5 each fully paid-up at the exercise price of Re. 1 per share which shall be exercisable after the first anniversary of the date of grant of then Option; and 227,781 equity shares as Sweat Equity shares free of cost.