Yinson Annual Report 2018

ISSUE OF SHARES AND DEBENTURES During the financial year, the Company increased its issued and paid-up ordinary share capital from 1,092,798,440 to 1,092,808,440 by way of issuance of 10,000 new ordinary shares arising from the exercise of options under Employees’ Share Scheme at the exercise price of RM2.80 per ordinary share. The new ordinary shares issued rank pari passu in all respects with the existing ordinary shares of the Company. There was no new debentures issued during the financial year. EMPLOYEES’ SHARE SCHEME On 3 November 2015, the Company obtained all required approvals and complied with the requirements pertaining to the establishment of Employees’ Share Scheme (“ESS”). Subsequently, the Company issued its first offer of option a total of 4,000,000 options on 23 December 2016 to eligible employees of the Group, including Executive Directors of the Company with 3 vesting periods. The options for unissued share are exercisable at RM2.80 per share in 3 tranches upon fulfilling the vesting condition and shall expire on 2 November 2020. On 25 January 2018, the Board of Directors resolved to extend the tenure for additional five (5) years till 2 November 2025 in accordance with the terms of the ESS By-Laws. Subsequent to the financial year end, the Compay has made second offer of options to eligible Executive Directors and employees of the Company. The details are disclosed in Note 48 to the financial statements. The salient features and other terms of the ESS are disclosed in Note 29 to the financial statements. The number of unissued shares granted under the ESS during the financial year and the number of unissued shares outstanding at the end of the financial year are as follows: Number of options over unissued ordinary shares Outstanding Outstanding as at as at 1.2.2017 Exercised Lapsed 31.1.2018 Date of offer 23 December 2016 - first tranche 1,333,333 (10,000) (200,000) 1,123,333 - second tranche 1,333,333 – – 1,333,333 - third tranche 1,333,334 – – 1,333,334 4,000,000 (10,000) (200,000) 3,790,000 No person to whom the option for unissued share has been granted as disclosed above has any right to participate by virtue of the option in any share issue of any other company. Corporate Overview Stewardship Governance Accountability 89 Yinson Holdings Berhad Annual Report 2018