Annual report 2014
133
NOTES TO THE FINANCIAL STATEMENTS
31 December 2014 (continued)
32. EXECUTIVES’ SHARE SCHEME (“ESS”) (continued)
(d) The option price of a new ordinary share under the ESS shall be at a discount of not more than ten
percent (10%) of the five (5)-days weighted average market price of the shares as quoted in the Daily
Official List issued by Bursa Malaysia Securities Berhad immediately preceding the date of offer, or at
the par value of the ordinary shares of RM0.20 each, whichever is higher;
(e) Upon exercise of the options, the shares issued rank pari passu in all respects with the then existing
ordinary shares of the Company;
(f) The employees and Directors to whom the options have been granted have no right to participate, by
virtue of these options, in any ordinary share issue of any other company; and
(g) The option price and the number of ordinary shares comprised in the ESS options are subject to
adjustment in the event of any alteration in the capital structure of the Company during the scheme
period in accordance with the provisions in the ESS By-Laws (“By-Laws”), subject to the determination
by ESS Committee.
During the financial year ended 31 December 2014, the option price and number of options over ordinary
shares have been adjusted in accordance with the provisions of the By-Laws (as mentioned in item (g)
above) as a result of Bonus Issue.
The details of the options over ordinary shares of the Company are as follows:
Number of options over ordinary shares of RM0.20 each
Outstanding
as at
1.1.2014
Movements during the financial year
Outstanding
as at
31.12.2014
Exercisable
as at
31.12.2014
Granted Bonus issue Exercised Forfeited
2014
3 September 2013
- first tranche
4,128,366
-
532,910 (2,895,210)
(200,000) 1,566,066 1,566,066
- second tranche
6,266,667
-
680,148 (4,895,056)
(410,134) 1,641,625 1,641,625
- third tranche
#
6,266,667
-
2,633,342 (433,234) (1,016,766) 7,450,009 900,100
16,661,700
-
3,846,400 (8,223,500) (1,626,900) 10,657,700 4,107,791
Weighted average
exercise prices (RM)
0.34
-
0.227
0.334
0.308
0.227
0.227
Weighted average
remaining contractual
life (months)
32
20
#
The ESS granted becomes exercisable with the approval from ESS committee.
