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Esop plan won't result in big dilution: India Infoline
Published on Tue, Nov 18, 2008 at 10:16 , Updated at Tue, Nov 18, 2008 at 14:02
Source : CNBC-TV18
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Here is a verbatim transcript of the exclusive interview with Nirmal Jain on CNBC-TV18. Also watch the accompanying video. Q: Why are you doing this and will the CLSA team stay on or will they leave after this? A: They will stay on; there is no doubt about it. We are doing this because these warrants are way out of money. Infact the warrant exercise price is Rs 88 and the current market price is Rs 46. So if you force these warrants then probably they will leave because nobody can afford these kind of mark-to-market losses. We are canceling these warrants so 10% money gets profited but in view of that we will give them stock option. So we have put new ESOP plan which is being presented to shareholders for approval on December 15. After that, there will be a compensation committee and a board meeting which will give them ESOP which will be a strong enough incentive for these guys to have equity and stay on. Q: Have you worked out the terms and conversion price of these new ESOPs because it will impact dilution as well for you? A: Infact dilution maybe lesser because we had a dilution of warrant which will not happen. So if you notice we had 55 million warrants which are being canceled. |
India Infoline has apparently cancelled its warrants to the CLSA institutional team which joined it a while back and the issue of ESOPs. Speaking on the same, Messages on Market Outlook - Short Term
Other comments
No reasons for markets to go up
This funda will work in all scrips too, if you calculate for them individually, but keep first and top priority for...
in Market Outlook - Short Term - snvaish at 10-Jan-09 05:29
No reasons for markets to go up
Presently I suggest to avoid bottom fishing, due to bad sentiments in the market, not only this, FIIs and Domestic ...
in Market Outlook - Short Term - snvaish at 10-Jan-09 04:58
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