Globsyn Technologies announces ESOP

NEW DELHI: Globsyn Technologies will offer stock options to all its employees and its subsidiaries either in India or abroad as on March 15, 2000. Under the ESOP scheme the shares would be offered at a price of Rs 25 each share to each employee depending on the duration of service. Globsyn Technologies is among the few companies offering stock options to its employees even before going public.

The ESOP scheme will be implemented as per the guidelines of SEBI and will be subject to amendment as per existing rules and regulations of the country. The employees who shall benefit from the ESOP scheme will not be eligible for dividends or bonus /right issues of the company, if any given till the date of conversion.

Said Bikram Dasgupta, Chairman and CEO, "I have always believed in employee ownership. It is only by sharing wealth - both current and future that a knowledge infrastructure company like Globsyn Technologies Ltd will be able to not only attract but also retain the best industry talent ". Globsyn plan's to increase its employee base to 220 from a figure of 100 employees by March 2001.