Yinson Annual Report 2021

274 YINSON HOLDINGS BERHAD SECTION 07 : ACCOUNTABILITY NOTES TO THE FINANCIAL STATEMENTS (CONT’D) For the financial year ended 31 January 2021 29. Share-based compensation plans (continued) (b) Employees’ Long-Term Incentive Plan (continued) (a) The salient features of the LTIP are as follows: (continued) (ii) (continued) The total percentages of Yinson Shares and performance bonuses to be awarded as a proportion of the issued and paid-up ordinary share capital of the Company (excluding treasury shares) upon achievement of specific target points for daily share price (based on 1-month Volume Weighted Average Price (“VWAP”) are as follows: 1-month VWAP Target Percentage of Yinson Shares to be awarded as proportion of the issued and paid-up ordinary share capital of the Company Performance bonus to be awarded as proportion of the issued and paid-up ordinary share capital of the Company Tranche 1 RM 6.50 Up to 0.32% Up to 0.19% Tranche 2 RM 7.50 Up to 0.64% Up to 0.38% Tranche 3 RM 8.50 Up to 1.29% Up to 0.76% Tranche 4 RM 11.00 Up to 2.25% Up to 1.33% Total Up to 4.50% Up to 2.66% (iii) The total number of Yinson Shares to be awarded to an employee shall not be more than 10% of the Yinson Shares made available under the LTIP if the employee either singly or collectively through persons connected with the said employee, holds twenty percent (20%) or more of the Company’s issued and paid up share capital (excluding treasury shares). (iv) The total number of Yinson Shares to be awarded to Mr. Lim Chern Wooi, being a person who singly or collectively through persons connected with them hold twenty percent (20%) or more of the issued and paid-up share capital (excluding treasury shares) of the Company, shall not exceed 10 percent (10%) of the issued and paid-up ordinary share capital of the Company (excluding treasury shares). (b) The Yinson Shares and performance bonuses for each tranche will be awarded only upon fulfilment of all of the following Group performance targets at the preceding financial year before grant (“Award Conditions”), as follows: (i) Current Ratio of the Group of more than 1 times; (ii) Audited PATMI (before deducting expenses recognised in accordance with MFRS 2 Share-based Payment) of the Group (“Adjusted Group PATMI”) equal to or greater than RM 400 million; and (iii) Specific target points for daily share price based on 1-month VWAP as set out in (a)(ii) above.