Date:23/07/2004 URL: http://www.thehindu.com/2004/07/23/stories/2004072304961501.htm

Business - Briefly

New stock option norms

MUMBAI, JULY 22. The Securities and Exchange Board of India has amended its guidelines on Employee Stock Option and Purchase Schemes (ESOP and ESPS) to provide for mandatory disclosures, pricing and appointment of merchant bankers. Under the amended norms, the market price would mean the latest available closing price, prior to the date of the meeting of the company board in which options are granted or shares are issued, on stock exchanges, SEBI said in a notification today.

PTI