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Jan 28, 2011 (LBO) - Sri Lanka's Sampath Bank said it intended to give stock options of up to three million shares to employees as a performance incentive if the bank reaches as yet undisclosed performance for 2011.
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The shares issued under the option plan would be 2.0 percent of the existing shares and will be issued at a discount of 10 percent from the price during the last week of January 2011.
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Though several Sri Lankan firms have employee share ownership plans, in Sri Lanka is it not usual to link them to a firms performance.



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In developed markets, stock options are common as part of executive compensation.
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Sri Lanka's Sampath Bank has been aggressively expanding after coming under the leadership of two former executives of Commercial Bank of Ceylon.

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The stock options could be exercised for three years from April 2012.

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