311 ANNUAL REPORT 2022 ACCOUNTABILITY NOTES TO THE FINANCIAL STATEMENTS (CONT’D) For the financial year ended 31 January 2022 29. Share-based compensation plans (continued) (a) Employees’ Share Scheme (continued) 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 27.2.2019 22.1.2020 28.9.2021 Dividend yield (%) 0.70 1.58 0.63 - 0.72 1.05 - 1.29 1.13 - 1.14 Expected volatility (%) 24.78 19.86 - 25.72 22.25 22.79 33.40 Risk-free interest rate (%) 3.34 - 3.48 3.85 3.59 - 3.76 3.29 - 3.34 2.96 - 3.41 Expected life of option (years) 2.50 - 3.50 1.50 - 3.50 1.50 - 3.50 1.50 - 3.50 1.50 - 3.50 Share price at date of grant (RM) 3.03 4.00 4.50 6.23 4.92 Exercise price of option (RM) 2.80 3.65 4.00 6.00 4.67 Fair value of option at date of grant (RM): - 1st tranche (RM) 0.65 0.45 0.72 0.90 0.95 - 2nd tranche (RM) 0.71 0.70 0.88 1.13 1.20 - 3rd tranche (RM) 0.76 0.82 1.03 1.30 1.40 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. 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 2022 30.3.2018 3.65 3,515 - (887) (10) 2,618 27.2.2019 4.00 7,368 - (940) (90) 6,338 22.1.2020 6.00 3,410 - - (165) 3,245 28.9.2021 4.67 - 4,740 - (240) 4,500 14,293 4,740 (1,827) (505) 16,701 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
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