Thu, 02 September 2010  21:45:15
Employee Stock
20 Feb, 2008 10:07:47
Sri Lanka HNB offers employee share option plan
Feb 20, 2008 (LBO) – Hatton National Bank, a large Sri Lankan private bank, said it will issue up to five percent of its capital to workers under a share option plan approved by its board.
The firm has a stated capital of five billion rupees comprising of 235 million ordinary shares issued, of which 46.2 million are non-voting shares.

Each year the equivalent of 1.25 percent of shares would be given to the share option plan valued at the average price during the last 20 days of the year, the bank said in an announcement to the Colombo bourse.

Employee share option plan (ESOP) for the management staff of the bank is subject to approval by shareholders as well as the Colombo Stock Exchange, it said.

HNB plans to convene an extra-ordinary general meeting of shareholders on March 28 to seek approval for the ESOP.

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