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    Question

    A separate shareholders’ resolution is required in

    case of ESOP where:
    A Grant of option to employees of subsidiary company Correct Answer Incorrect Answer
    B Grant of option to employees of holding company Correct Answer Incorrect Answer
    C Grant of option to identified employees, during any one year, equal to or exceeding 0.5% of the issued capital Correct Answer Incorrect Answer
    D All of the above Correct Answer Incorrect Answer
    E A or B Correct Answer Incorrect Answer

    Solution

    A separate shareholders’ resolution is required where: o   Grant of option to employees of subsidiary or holding company o   Grant of option to identified employees, during any one year, equal to or exceeding 1% of the issued capital (excluding outstanding warrants and conversions) of the company at the time of grant of option

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