Helios & Matheson to offer stock options

By agencies   |   Wednesday, 22 June 2005, 07:00 Hrs
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CHENNAI: In a move to attract and retain quality talent, mid tier IT services firm Helios & Matheson is planning an employee stock option scheme and three firms - KPMG, Ernst & Young and ESOP Direct - have been short-listed to design, manage and run the scheme. "We will shortly convene an EGM (Extra-ordinary General Meeting) to get the shareholders approval for the stock option scheme," V Ramachandran, Chairman, Helios & Matheson said. Helios & Matheson, which has been hiring at the rate of about 100 people per month, has a total of 1,226 employees by the end of last month. "In order to attract quality talent and to retain them, we have realized the need to offer the stock option scheme to our employees," he said, adding that this would be the first time the company coming up with employee stock options. Three companies like ESOP Direct, KPMG and Ernst & Young have been asked to design an appropriate scheme for the company. One company will be selected from among the three to manage and run the scheme for Helios & Matheson.

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