Band­han plans more ESOPS

DNA (Daily News & Analysis) Mumbai Edition - - FRONT PAGE - Soumonty Ka­nungo soumonty.ka­[email protected]­

Mum­bai: Band­han Bank has sought share­hold­ers’ ap­proval to in­crease the to­tal num­ber of op­tions un­der the “Band­han Bank Em­ployee Stock Op­tion Plan” in or­der to at­tract, re­tain, in­cen­tivise and mo­ti­vate tal­ents.

In its an­nual re­port 201819, the Kolkata-based mi­cro-credit-in­sti­tu­tion­turned-full-fledged com­mer­cial bank said the plan to in­cen­tivise tal­ents through Band­han Bank Em­ployee

BAND­HAN BANK Stock Op­tion Se­ries 1 (ESOP Plan Se­ries 1) was ap­proved prior to its ini­tial pub­lic of­fer in 2018.

It was ap­proved by its Board on July 26, 2017, with an ini­tial stock op­tion re­serve of 5,47,57,052 op­tions, and was ap­proved by the mem­bers of the bank by way of a spe­cial res­o­lu­tion on Novem­ber 23, 2017.

How­ever, only 22,20,725 op­tions could be granted through spe­cial res­o­lu­tions dated Novem­ber 23, 2017, and De­cem­ber 20, 2017. Hence, the quan­tum of op­tions as orig­i­nally ap­proved for the grant prior to IPO has been ex­hausted, the bank said in its an­nual re­port. Turn to p2

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