Annual Report 2016
151
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED MARCH 31, 2016
29. SHARE-BASED PAYMENTS
– continued
Equity-settled share option scheme
– continued
The options under ESOS III grant the right to the holder to subscribe for new ordinary shares of the
Company at the exercise price to be determined by the ESOS Committee, in its sole and absolute
discretion, on the date of grant, which must be at least the higher of (i) the closing price of the
shares as stated in the daily quotations sheet of the SEHK or the SGX-ST (whichever is higher) on
the date of grant, which must be a business day; and (ii) the average closing prices of the shares
as stated in the daily quotations sheet of the SEHK or the SGX-ST for the five consecutive business
days immediately preceding the date of the grant of the option (whichever is higher). The number
of shares in respect of which options may be granted under ESOS III, when aggregate with those
granted under any other share option schemes of the Company and the time being in force, shall
not exceed 15% of the issued share capital of the Company on the date preceding the date of the
relevant grant.
Under ESOS III, the period for the exercise of an option will commence after the first anniversary of
the date of grant and expiring on the tenth anniversary of such date of grant.
Details of the share options outstanding during the year are as follows:
THE GROUP AND THE COMPANY
2016
2015
Weighted
Weighted
Number
average
Number
average
of share exercise
of share
exercise
options
price
options
price
S$
S$
At the beginning of the year
4,968,000
0.067
18,532,800
0.105
Exercised during the year
(785,000)
0.067
(4,024,800)
0.067
Lapsed during the year
–
–
(8,580,000)
0.149
Cancelled during the year
–
–
(960,000)
0.067
Consolidated during the year (Note)
(3,346,400)
0.067
–
–
At the end of the year
836,600
0.335
4,968,000
0.067
Exercisable at the end of the year
836,600
4,968,000
Note:
Upon the share consolidation became effective on August 17, 2015, the exercise price and the number of
underlying shares comprised in the outstanding options granted under the ESOS II of the Company have
been adjusted.
