Fresh ESOP offer at JKH

Wednesday, 27 October 2010 01:32 - - {{hitsCtrl.values.hits}}

The Board of Directors of John Keells Holdings (JKH) on Monday resolved to issue a fresh offer under its Employee Share Option Plan (ESOP).

The number of shares on offer under the new move is 0.75% of the issued shares of JKH on the date of the offer. Price will be the weighted average closing price of an ordinary share at the date of offer. The current stated capital of JKH is Rs. 23.7 billion. The Board decision is subject to shareholder and regulatory approval.

In December JKH awarded the options amounting to 6.12 million shares (1% of the total issued shares at the date of approval) under its fifth ESOP at a price of Rs. 160.25.

As per 2009/10 Annual Report, under ESOPs 3, 4 and 5, JKH had granted 34.2 million shares of which 10.87 million shares had been exercised and 28 million outstanding.