16. CAPITAL AND RESERVES (CONTINUED) Share option reserve (continued) The options offered to take up unissued ordinary shares and the exercise price is as follows: Date of offer Exercise price Number of options over ordinary shares At 1.7.2022 Granted Exercised Forfeited/ Lapsed At 31.12.2023 12 April 2021 RM0.755 12,335,350 – (76,500) (1,290,600) 10,968,250 19 May 2021 RM0.635 10,000,000 – – – 10,000,000 1 March 2022 RM1.032 39,290,300 – – (9,498,310) 29,791,990 1 March 2023 RM0.580 – 8,260,000 – (288,000) 7,972,000 61,625,650 8,260,000 (76,500) (11,076,910) 58,732,240 The number of options exercisable as at 31 December 2023 was 54,821,904 units (30.6.2022: 27,332,095 units) and have an exercise price in the range of RM0.580 to RM1.032 (30.6.2022: RM0.635 to RM1.032) and a weighted average contractual life of 5 years (30.6.2022: 5 years). During the financial period, options to subscribe for 8,260,000 new ordinary shares have been granted to Eligible Persons pursuant to the ESOS. The fair values of the share options granted were estimated using the Binomial Option pricing model, taking into account the terms and conditions upon which the options were granted. The fair values of the share options measured at grant date and the assumptions used are as follows: Date of offer 1 March 2023 1 March 2022 19 May 2021 12 April 2021 Fair value of share options at the grant date RM0.253 RM0.508 RM0.365 RM0.352 Weighted average ordinary share price RM0.605 RM1.120 RM0.704 RM0.839 Exercise price of share option RM0.580 RM1.032 RM0.635 RM0.755 Expected volatility 59.15% 50.36% 39.85% 39.85% Expected life 5 years 5 years 5 years 5 years Risk free rate 3.90% 3.90% 3.96% 3.96% Expected dividend yield 0.55% – – – Integrated Report 2023 255
RkJQdWJsaXNoZXIy NDgzMzc=