Sasbadi Annual Report 2020

SASBADI HOLDINGS BERHAD 114 FINANCIAL STATEMENTS (continued) 19. Employee benefits Share-based payments arrangement On 6 December 2019, the Company granted share options to its eligible employees to purchase shares in the Company under the Employees’ Share Option Scheme (“ESOS”) which was approved by the shareholders of the Company on 19 July 2016 and implemented on 1 September 2016. In accordance with the ESOS, holders of vested ESOS options are entitled to purchase the Company’s shares at the exercise price at the date of grant. The exercise price is determined based on five (5) days volume-weighted average market price immediately preceding the date of offer, with a discount of not more than ten per cent (10%), if any. The terms and conditions related to the grants of the share option programme are as follows: Group Grant date Number of options (‘000) Vesting conditions Contractual life of options 6 December 2019 10,000 No vesting conditions 1 year The number and exercise price of share options are as follows: 2020 2019 Exercise price Number of options Exercise price Number of options Group RM ‘000 RM ‘000 Outstanding at 1 September - - - - Granted during the year 0.17 10,000 - - Outstanding at 31 August 0.17 10,000 - - Exercisable at 31 August 0.17 10,000 - - The options outstanding at 31 August 2020 have an exercise price of RM0.17 (2019: Nil) and a contractual life of 1 year from the date of grant. During the financial year, no share options were exercised.