Britannia Industries Ltd has informed BSE that the Remuneration / Committee of the Board of Directors of the Company has approved at its meeting held on May 27, 2011, grant of 1,25,000 stock options to Ms. Vinita Bali, Managing Director. Each Option granted will entitle her upon exercise of the Options, to receive one share of the Company of the face value of Rs. 2/-. These Options have been granted subject to the terms and conditions governing the ESOS including the following: Vesting period: A minimum period of one year from the date of grant. Accordingly the options will vest on May 27, 2012. Exercise price: Rs. 391.75 per share. (Market price as at the close of May 26, 2011) Exercise period: To commence from the date of vesting and to expire not later than 3 years from the date of Vesting.
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