Fineotex Chemical board approves grant of 70,673 options under ESOP; Stock dips 1.5%

18 Jan 2022 , 11:46 AM

Fineotex Chemical Ltd has informed that the Nomination and Remuneration Committee of the Board in their meeting held on January 17, 2022 has approved a grant of 70,673 options to eligible employees of the Company (which includes the employees of its wholly owned subsidiary) at price of Rs125 per option under the ‘Fineotex Chemical Limited-Employees Stock Option Plan 2020’as amended (“ FCL-ESOP 2020”).

“The FCL-ESOP 2020 Scheme is in compliance with SEBI Regulations, 2021 and the above grant shall be governed by the terms and conditions of FCL- ESOP Scheme 2020”, said company in a regulatory filing.

Vesting Period
The vesting of the above options shall be 2 years Six months from the date of grant.

Exercise Period
All the vested options shall be exercised within a period of Six Months from the date of its respective vesting. The said options carry the right to apply for equivalent number of equity shares of the Company of the face value of Rs. 2/- each.

At around 11:45 AM, Fineotex Chemical was trading at Rs159.20 per piece down by Rs2.4 or 1.49% on the BSE.