266 NOTES TO THE FINANCIAL STATEMENTS (CONT’D) For the financial year ended 31 January 2023 YINSON HOLDINGS BERHAD | INTEGRATED ANNUAL REPORT 2023 29. Share-based compensation plans (continued) (b) Employees’ Long-term Incentive Plan (continued) The significant inputs in the model used were as follows: Grant date 3 August 2020 Share price at grant date (RM) 6.27 Risk free rate (%) 2.16 Expected volatility (%) 25 Expected dividend yield (%) 1.48 Fair value of Yinson Shares at date of award (RM): * - Tranche 1 at 1-month VWAP of RM 2.77 2.12 - Tranche 2 at 1-month VWAP of RM 3.20 1.70 - Tranche 3 at 1-month VWAP of RM 3.69 1.35 - Tranche 4 at 1-month VWAP of RM 4.69 0.73 * Adjusted following the Bonus Issue and Rights Issue. See Note 29(d) for more details. The expected dividend yield used was based on future estimates, which may not necessarily be the actual outcome. The expected price volatility is based on average historical volatility over a 4-year period on a daily basis. (c) Expenses arising from share-based payment transactions Total expenses arising from share-based payment transactions recognised during the current financial year as part of employee benefits expenses were as follows: Group Company 2023 RM million 2022 RM million 2023 RM million 2022 RM million Share options issued under ESS (Note 29(a)) 2 4 2 4 Amount charged to subsidiaries - - (1) (2) Net amounts recognised in profit or loss 2 4 1 2 Share Award Scheme under LTIP (Note 29(b)) (10) 18 (10) 18 Amount credited/(charged) to subsidiaries - - 9 (12) Net amounts recognised in profit or loss (10) 18 (1) 6 Equity-settled share-based payment expenses (8) 22 - 8 Performance Bonus Scheme under LTIP (Note 29(b)) (10) 17 (10) 17 Total share-based payment expenses (18) 39 (10) 25 During the financial year, the Group and the Company revised its assumptions on the achievement of specific target points for daily share price under the LTIP. This resulted in a reversal of LTIP expenses of RM38 million and RM11 million for the Share Award Scheme respectively and RM26 million and RM26 million for the Performance Bonus Scheme respectively.
RkJQdWJsaXNoZXIy NDgzMzc=