ESOS Trust Finalizes Settlement Deed, Gains Shares of GHCL and GHCL Textiles
GHCL Ltd has announced that the GHCL Employees Stock Option Trust (ESOS Trust) has successfully executed a settlement deed with a concerned broker. This action resolves litigations that were pending before various judicial forums.The settlement deed marks the resolution of outstanding legal proceedings concerning the ESOS Trust.
The core terms of the settlement provide the ESOS Trust with specific equity entitlements in both GHCL Limited and GHCL Textiles Limited.
Details of the shares received by the ESOS Trust under the settlement are as follows:
| Company | Number of Equity Shares Received |
|---|---|
| GHCL Limited | 7,45,966 |
| GHCL Textiles Limited | 8,56,466 |
Following the receipt of these shares, the ESOS Trust plans to dispose of them. The proceeds generated from the sale, net of any applicable taxes, will subsequently be remitted to the company.
Both GHCL Ltd and the ESOS Trust are expected to account for the proceeds according to applicable accounting norms.
GHCL Stock Price Movement
On Monday, GHCL Limited shares edged higher, settling at ₹489.3 after gaining 3.10%. The stock traded within a range of ₹461 to ₹492, with total traded volume recorded at 179,072 shares.Source:
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