FINANCIAL STATEMENTS (continued) 107 17. SHARE CAPITAL AND RESERVES (continued) (f) Share option reserve (continued) Employees’ share option scheme (“ESOS”) (continued) The Company has received all the relevant approvals, complied with the requirements pertaining to the ESOS, and submitted the final copy of the By-Laws of the ESOS to Bursa Malaysia Securities Berhad (“Bursa Securities”) pursuant to paragraph 6.42 of the Bursa Securities Listing Requirements on 1 September 2016. The implementation of ESOS is thus effective from 1 September 2016. On 17 February 2021, the Board of Directors has approved the extension of the ESOS which will be expiring on 31 August 2021, for a further period of five (5) years from 1 September 2021 to 31 August 2026. On 17 February 2021, the Company offered 10,000,000 options at an exercise price of RM0.12 each to its eligible employees under the ESOS. During the current financial year, 260,000 new ordinary shares were issued pursuant to the exercise of this ESOS and 50,000 options had lapsed. On 10 March 2022, the Company offered another 12,000,000 options at an exercise price of RM0.10 each to its eligible employees under the ESOS. During the current financial year, 150,000 new ordinary shares were issued pursuant to the exercise of this ESOS. In accordance with the ESOS, holders of vested ESOS options are entitled to purchase the Company’s shares at the exercise price at the date of grant. The terms and conditions related to the grants of the share option programme are as follows: Number Contractual of options Vesting life of Group Grant date (’000) conditions option ESOS 1 17 February 2021 10,000 None 2 years ESOS 2 10 March 2022 12,000 None 2 years The number and weighted average exercise prices of share options are as follows: 2022 2021 Exercise Number Exercise Number Group price of options price of options RM ’000 RM ’000 Outstanding at 1 September 2021 / 2020 0.12 4,925 0.17 10,000 Granted during the financial year 0.10 12,000 0.12 10,000 Exercised: ESOS 1 0.12 (260) 0.12 (5,075) ESOS 2 0.10 (150) - - Lapsed 0.12 (50) 0.17 (10,000) Outstanding and exercisable at 31 August 16,465 4,925 ESOS 1 0.12 4,615 0.12 4,925 ESOS 2 0.10 11,850 - - 16,465 4,925 107 ANNUAL REPORT 2022
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