7,952
August 19, 2009
News : The government on Wednesday announced that it will give 12 per cent shares (438 million shares) of state-owned Oil & Gas Development Company Ltd (OGDCL) to its employees free of cost…Giving further details, Qamar said a total of 438 million shares of the OGDC will be given to workers in lots of 3,000 shares each. Employees will be given between one and 20 lots each, depending on their length of service, he said. Workers will only be eligible to receiving shares if they have worked for the company for five years. …The government’s stake in the company will be reduced to 73 per cent after the shares are allocated to employees on Aug 26. Under the scheme, employees are barred from selling the shares and will receive the market price when they leave the company, Qamar said. They will get annual dividends while in employment… The News
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Market Close : 7,952.70 — 42.40 points down
