Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Stock Report

| More

Reliance Communications announces ESOPs for over 20,000 employees

Posted On: 2008-03-10 02:33:14

Reliance Communications Ltd on March 09, 2008 has announced a first of its kind and unique Employee Stock Options Scheme in order to share the growth in value and reward its employees for having participated in the unprecedented success of the Company. The initiative in line with the Groups policy to create value for stakeholders external and internal, the Employee Stock option scheme would cover over 20,000 employees of Reliance Communications, and its subsidiaries, making it the largest ESOP rollout by any Indian Telecom Service Provider. The ESOS Compensation Committee of the Board of Directors of the Company approved grant of 175,00,000 (17.5 million) Options to the eligible employees based on specified criteria.

"Our Group Founder, and Visionary, Late Shri. Dhirubhai Ambani always believed that knowledge resides in people, and accordingly always build the growth plans of Reliance around people", said Mr. Anil Dhirubhai Ambani, Chairman - Reliance Communications. "The Employee Stock Option Scheme truly recognizes the efforts of our employees and aims to reward them for contributing towards the transformation of Reliance Communications as the most profitable Indian Telecom Enterprise, and among Asia's Top 5 Most Valuable Companies within a short span of two years", he added.

The Company has undergone extensive research based on intricate scientific models to formulate an innovative 3-Tier Model that would consider multiple parameters to derive at number of options to be granted to every individual employee. The Three-Tier Model, incorporating global best practices, would consider multiple parameters including number of years in the Company, Role, Contribution, Experience amongst others while categorization under:

- Founder's Club
- Pioneer's Club
- Growth Club

Each option would be exercisable into equal number of fully paid-up equity shares of Reliance Communications. The Options will vest at the end of one year from the date of grant and shall be eligible for exercise up to a period of nine years from the date of vesting as prescribed in the Exercise Schedule of the respective Plan(s). The Shareholders of Reliance Communications had passed the resolution of grant of securities under the ESOS scheme last year. An ESOS Committee of Independent Directors of the Board was constituted to administer the ESOS.

Source: Equity Bulls

Click here to send ur comments or to

Other Headlines:

Suyog Telematics Ltd board approves fund raising proposal

CRISIL reaffirms ratings of Menon Bearings Limited

Eldeco Housing & Industries Ltd to enter into MoU with Eldeco Infrastructure and Properties Ltd

India Finsec Limited to provide additional corporate guarantee to IFL Housing Finance Ltd

IndiGo awarded Best Domestic Airline by FICCI

PG Industry Ltd board approves stock split

Ipca Laboratories Ltd gets 3 observerations from USFDA for Piparia unit

Nath Pulp & Paper Mills Ltd gets NCLT nod for merger

Vadilal Industries Ltd Board recommends Dividend of Rs. 1.25 for FY2019

Vadilal Enterprises Ltd Board recommends Dividend of Rs. 0.80 for FY2019

Jonjua Overseas Ltd updates on order

Vadilal Industries Ltd reports consolidated Q1 FY20 PAT of Rs. 37.67 crores

Vadilal Enterprises Ltd posts PAT of Rs. 11.17 crores in Q1 FY20

CNG supply, CNG-run vehicles and D-PNG supply launched in Ranchi

Insilco Ltd announces shut down of plant on high inventory

Ind-Ra revises rating outlook of Dynamatic Technologies Ltd

US FDA Inspection at Alkem's two manufacturing facilities

Cupid Ltd receives order of Rs. 4.95 crores

Trident Limited won 'Madhya Pradesh State Level 8th Kaizen Competition' Award

Supershakti Metaliks Ltd Board approves 1:1 Bonus Issue

Advik Laboratories Ltd to sell plant to pay for OTS with Indian Overseas Bank

Galaxy Surfactants' 'Aapda Rahat' CSR project extend flood relief aid to 1,000 families in Sangli

NHPC signs agreement with Assam Government for 2000 MW Hydro Power Project

NCL Industries Ltd to form JV in China

ICRA reaffirms ratings of Endurance Technologies Ltd

Bandhan Bank launches credit cards, in partnership with Standard Chartered Bank

IFFCO to invest Rs. 262.15 crore in Triumph Offshore Pvt. Ltd.

Wockhardt Ltd receives GMP compliance certificate for Ankleshwar unit

Thomas Cook India brings Domestic Tourism to the forefront

Hindustan Oil Exploration Company Ltd clarifies on stake sale by KMPs

Maruti Suzuki to proactively recall 40,618 WagonR (1 litre) vehicles

Sundaram-Clayton Ltd's plants to work only for 5 days in a week

Nilkamal Bito Storage Systems Pvt Ltd is now wholly owned subsidiary of Nilkamal Ltd

TVS Motor Company supports flood-affected states across India

Ishan Dyes & Chemicals Ltd allots 47,03,447 shares on rights basis

63 moons wins MPID case in Bombay HC, Court rules NSEL is not financial establishment

Brickwork Ratings revises ratings of Sical Logistics Ltd

TCS iON IntelliGem to Help School Students Build 21st Century Skills

Glenmark Pharmaceuticals receives ANDA approval for Fulvestrant Injection, 250 mg/5 mL (50 mg/mL)

Ethos Ltd opens new store at Phoenix Maret City, Velachery, Chennai

MEP Infrastructure Developers receives LOA for BOT project

India Ratings Places Shree Renuka Sugars on RWN

Infosys and University of Illinois Urbana-Champaign Enter a Strategic Partnership for Precision Medicine

Dabur India Ltd updates on new step down Subsidiary Company

Bimetal Bearings Ltd announces re-alignment of production

Amazon to acquire 49% in Future Coupons Ltd

Pidilite unveils state-of-the-art adhesive manufacturing plant in Bangladesh

HDFC Bank Ltd appoints Mr. Srinivasan Vaidyanathan as CFO

New Version of TCS iCMC™ Solution to Help Enterprises Accelerate their Cloud Journey

Kamdhenu Ltd starts partial manufacturing operations at paints factory, Alwar

Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019