Yinson Annual Report 2021

273 ANNUAL REPORT 2021 NOTES TO THE FINANCIAL STATEMENTS (CONT’D) For the financial year ended 31 January 2021 29. Share-based compensation plans (continued) (a) Employees' Share Scheme (continued) Movements in the number of share options over ordinary shares outstanding and their related weighted average exercise prices are as follows: Average exercise price per share option At start of the financial year Granted Exercised Lapsed At end of the financial year Grant date RM '000 '000 '000 '000 '000 2021 23.12.2016 2.80 2,037 - (1,932) (105) - 30.3.2018 3.65 5,230 - (1,595) (120) 3,515 27.2.2019 4.00 8,835 - (1,247) (220) 7,368 22.1.2020 6.00 3,740 - - (330) 3,410 19,842 - (4,774) (775) 14,293 2020 23.12.2016 2.80 3,196 - (1,047) (112) 2,037 30.3.2018 3.65 5,783 - (453) (100) 5,230 27.2.2019 4.00 - 9,000 - (165) 8,835 22.1.2020 6.00 - 3,740 - - 3,740 8,979 12,740 (1,500) (377) 19,842 For the financial year ended 31 January 2021, the weighted average share prices at the time of exercise of 1,932,000 (2020: 1,047,000) share options under the first offer of options on 23 December 2016, 1,595,000 (2020: 453,000) share options under the second offer of options on 30 March 2018 and 1,247,000 (2020: NIL) share options under the third offer of options on 27 February 2019 were RM5.39 (2020: RM5.91) per share, RM5.45 (2020: RM6.48) per share and RM5.59 (2020: NIL) respectively. (b) Employees’ Long-Term Incentive Plan On 26 June 2019, the Board of Directors of the Company approved an Employees’ Long-term Incentive Plan (“LTIP”). The LTIP is governed by the by-laws of the ESS approved by the shareholders on 3 November 2015. Under the LTIP, either performance bonuses in cash or ordinary shares in the Company (“Yinson Shares”) are awarded to the eligible employees and executive director of the Group. On 25 March 2020, the terms and conditions of the LTIP were finalised and approved by the Board of Directors. On 3 August 2020, the LTIP was granted to the eligible employees and executive director of the Group. (a) The salient features of the LTIP are as follows: (i) The awards under the LTIP can be made through the Share Award Scheme (award of Yinson Shares) or Performance Bonus Scheme (bonus payout in cash). The Share Award Scheme component under the LTIP (which is under the ESS) shall expire on 2 November 2025. (ii) The maximum number of Yinson Shares to be allotted and issued for the Share Award Scheme and the maximum amount of performance bonuses to be paid under the Performance Bonus Scheme under the LTIP shall not be more than, in aggregate, 4.50% and 2.66% of the issued and paid-up ordinary share capital of the Company (excluding treasury shares) respectively, at any point in time during the duration of the LTIP.