Annual Report 2010-2011 - Gammon India

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Information required to be disclosed under the Securities and Exchange Board of India
(Employees Stock Option Scheme and Employees Stock Purchase Scheme Guidelines, 1999)
Employees Stock Option Scheme – 2007
(a) Options granted 106,300 Equity Shares of ` 10 each
(b) The pricing formula The Exercise Price was to be decided by ‘Compensation
Committee’, which shall not be less then the par value
and shall not be less than the ‘Fair Market Value’ on
the date of grant. Based on the valuation report the
Compensation Committee fixed the Exercise Price at
` 80 per option.
(c) Options vested 106,300
(d) Options exercised 40,723
(e) Total number of shares arising as a result of exercise of
option
A NNUAL R EPORT I 2010/11
81,446
(f) Options lapsed 19,344
(g) Variation of terms of Options Nil
(h) Money realized by exercise of options ` 3,257,840/-
(i) Total number of options in force –
Vested 106,300
Unvested 65,577
Total 46,233
(j) Employee wise options granted to –
(i) Senior Managerial Personnel. As per Statement attached
(ii) Any other employee who receives a grant in any
one year of Options amounting to 5% or more of
Options granted during that year.
(iii) Identified employee who were granted Options,
during any one year, equal to or exceeding 1% of the
issued capital (excluding outstanding warrants and
conversions) of the Company at the time of grant.
(k) Diluted Earning Per Share (EPS) pursuant to issue of
shares on exercise of options calculated in accordance
with Accounting Standards (AS) 20 ‘Earning Per Share’.
(l) The difference between employee compensation cost
using intrinsic value method and the fair value of the
Options and impact of this difference on profits and
on EPS.
(m) Weighted average exercise price and weighted average
fair values of options shall be disclosed separately for
options whose exercise price either equals or exceeds or
is less than the market price of the stock.
(n) Fair Value (Price Earning Capacity Value)
Price of options
“ANNEXURE – A” TO THE DIRECTORS REPORT
None
None
` 9.10/-
` 1.71 crores, profit and EPS are reduced by ` 1.71 crores
and ` 0.14 crores respectively.
` 80/- and ` 677.65/- respectively.
` 80/-