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MUMBAI, Feb. 18

KALE Consultants Ltd has informed the Bombay Stock Exchange that its board's Remuneration and Compensation committee has granted 7.5 lakh options on February 7, 2003, to its employees and employees of subsidiary companies under the Employees' Stock Option Scheme 2003.

Broadly, the terms of the scheme are: 30 per cent of the options granted will vest on completion of one year from the date of grant; 70 per cent of the options granted will vest equally over a period of eight quarters on a quarterly basis starting from the end of 15th month from the date of the grant of the options; the options shall be exercised within two years from the date of vesting; and, the exercise price of the options granted is the closing market price on the National Stock Exchange of India on the date of the grant.

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Kale Consultants grants 7.5 lakh stock options

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