Date:06/03/2007 URL: http://www.thehindubusinessline.com/2007/03/06/stories/2007030602730400.htm

Back Intense Tech to allot ESOPs

Our Bureau

Hyderabad, March 5

Hyderabad-based Intense Technologies Ltd has informed the Bombay Stock Exchange that the company's board of directors today decided to grant stock options to its employees in accordance with the SEBI guidelines. This follows a meeting of the board convened to discuss the impact of Fringe Benefit Tax (FBT) and ESOPs (employee sock option plan) announced in the Budget.

After deliberations, the company decided to granted stock options to its employees. The company had not factored in the incidence of FBT on ESOPs while framing the stock option scheme. However, it was decided that the burden of FBT would be passed on to the respective employees, as they are the beneficiaries. Accordingly, necessary approvals will be sought in due course after more details are available on this matter, the company informed the BSE.