GAMMON INDIA LIMITED

Vesting Date
No. Of
Options
Exercise Period
32
Intrinsic Value
on the date of
grant of
options
Fair Value of
options as on
date of grant
of option
(Rs) (Rs)
(1) (2) (3) (4) (5)
September 28, 2008 21,260 September 28, 2008 to September 27, 2011 250.00 677.65
September 28, 2009 26,575 September 28, 2009 to September 27, 2012 250.00 677.65
March 28, 2010 26,575 March 28, 2010 to March 27, 2013 250.00 677.65
March 28, 2011 31,890 March 28, 2011 to March 27, 2014 250.00 677.65
106,300
The fair value of options accounted pursuant to the scheme of amalgamation was determined as at the date of grant of
the options using the Black Scholes Option Pricing Model with the following assumptions:
a. Risk free interest rate ……………………………………….7.50%
b. Expected Dividend Yield……………………………………0.39%
c. Expected life of the option………………………………… 3 years
d. Expected Volatility of Share Price…………………………52.64%
The status of employees stock options for the year ended March 31, 2009 is as under:
Particulars No. of Option
Shares
Option shares outstanding as at April 1, 2008 106,300
Options exercised during the year 1,220
Option shares granted during the year -
Option shares lapsed during the year 2,600
Option shares outstanding as at March 31, 2009 102,480
During Fiscal 2009, before approval of the ATSL Scheme some employees have exercised option that had vested in
them and were allotted equity share of the erstwhile ATSL. In accordance with the ATSL Scheme 1,220 equity shares
are allotted to such employees which is shown under equity share suspense account. The excess of the consideration of
Rs. 80 over the face value of two equity shares has been shown under security premium account.
As on September 30, 2009, the Company had 91,670 options outstanding capable of being convertible into 1,83,340
Equity Shares.