Yinson Annual Report 2018

29. EMPLOYEE SHARE SCHEME (CONTINUED) Movements in the number of share options over ordinary shares outstanding and their related weighted average exercise prices are as follows: 2018 2017 Average Average exercise exercise price per price per share option Options share option Options RM ’000 RM ’000 At 1 February 2.80 4,000 – – Granted – – 2.80 4,000 Exercised – (10) – – Lapsed – (200) – – At 31 January 2.80 3,790 2.80 4,000 Subsequent to the financial year end, the Compay has made second offer of option to eligible Executive Directors and employees of the Company. The details are disclosed in Note 48 to the financial statements. 30. RESERVES (a) Foreign currency translation reserve The foreign currency translation reserve represents exchange differences arising from the translation of the financial statements of foreign operations whose functional currencies are different from that of the Group’s presentation currency. It also included the exchange differences arising frommonetary items which form part of the Group’s net investment in foreign operations, where the monetary item is denominated in currency different from that of the Group’s presentation currency. (b) Cash flows hedge reserve The cash flow hedge reserve represents cumulative fair value gain or loss arising from derivatives recognised. The effective portion of cash flow hedges is recognised in reserve while the ineffective portion will be reclassified to profit or loss. (c) Share-based option reserve The share-based option reserve comprises the cumulative value of employee services received for the issue of share options by the Company. The fair value, measured at grant date of the share options granted to these employees is recognised as an employee expense in profit or loss and a corresponding increase in equity, over the period that the employees become unconditionally entitled to the options. (d) Capital reserve Capital reserve arising from step-up acquisition of a subsidiary, which pertains to convertible note instruments which are to be settled via issuance of equity shares of the subsidiary upon the occurrence of conditions set out in the convertible note agreement. 31. RETAINED EARNINGS The Company may distribute dividends out of its entire retained earnings as at 31 January 2018 under the single tier system. Corporate Overview Stewardship Governance Accountability 163 Yinson Holdings Berhad Annual Report 2018