Yinson Annual Report 2019

Yinson Holdings Berhad ANNUAL REPORT 2019 182 29. EMPLOYEES’ SHARE SCHEME (CONTINUED) The main features of the Scheme are as follows: (continued) (c) The new shares issued upon the exercise of an option will be subject to all the provisions of the Company’s Constitution and the Main Market Listing Requirements of Bursa Malaysia Securities Berhad and shall rank pari passu in all respects with the then existing issued ordinary shares of the Company, save that they will not entitle the holders thereof to receive any rights or bonus issue or dividends or distributions the entitlement date of which precedes the date of the issue of such new shares. (d) The aggregate maximum number of Scheme Shares that may be allocated to any one category/designation of eligible Director or employee of the Group shall be determined by the ESS Committee provided that: (i) the Directors (including non-executive directors) and senior management do not participate in the deliberation and discussion of their own allocation; (ii) not more than 80% of the Scheme Shares available under the ESS on any date shall be allocated in aggregate to the Directors (including non-executive directors) and senior management of the Group; and (iii) the allocation to any individual eligible Director or employee of who, either singly or collectively through persons connected with the eligible Director or employee, holds twenty percent (20%) or more of the issued and paid-up share capital (excluding treasury shares) of the Company, does not exceed ten percent (10%) of the shares available under the ESS. The fair value of share options granted were determined using the Trinomial valuation model, taking into account the terms and conditions upon which the options were granted. The inputs to the model used were as follows: Grant date 23.12.2016 30.3.2018 Dividend yield (%) 0.70 1.58 Expected volatility (%) 24.78 19.86 - 25.72 Risk-free interest rate (%) 3.34 - 3.48 3.85 Expected life of option (years) 2.50 - 3.50 1.50 - 3.50 Share price at date of grant (RM) 3.03 4.00 Exercise price of option (RM) 2.80 3.65 Fair value of option at date of grant (RM): - 1st tranche (RM) 0.65 0.45 - 2nd tranche (RM) 0.71 0.70 - 3rd tranche (RM) 0.76 0.82 The expected average life of options is based on historical information, which may not necessarily be indicative of the future exercise pattern that may occur. The expected volatility reflects the assumptions based on the historical volatility on the assumptions that this is indicative of future trends which may also not necessarily be the actual outcome. For the financial year ended 31 January 2019 Notes to the financial statements (cont’d)