Petron Engineering Construction Limited Announces Audited Earnings Results for the Year Ended March 31, 2016; Approves Amendment to the Articles of Association
The company announced at the AGM held on September 23, 2016 has approved the amendment to the articles of association of the company - granting Employee Stock Option. The following is the Article 10A inserted after Article 10 of the Articles of Association of the company: Article 10A: To grant Employee Stock Option in accordance with the provisions of the Companies Act, 2013 and as may be permitted by the Securities and Exchange Board of India (SEBI) and other applicable acts Rules as the case may be and authorizing the Board of Directors of the company to formulate Employees Stock Option Scheme for allotment of shares to the employees in terms of the provisions of the Companies Act, 2013 and SEBI Guidelines as issued from time to time.