WILLAS-ARRAY ELECTRONICS (HOLDINGS) LIMITED
52
REPORT OF THE DIRECTORS
21. OPTIONS TO TAKE UP UNISSUED SHARES
– continued
Particulars of the share options outstanding under ESOS II during the Year and the share options
exercised, lapsed and cancelled during the Year were as follows:
Number of underlying Shares comprised in share options
Adjusted
Balance
Balance
exercise price
as at
Exercised
Adjusted
Lapsed
Cancelled
as at
per share
Name or Category
April 1,
during
during
during
during
March 31,
(Before share
of participants
Date of grant
2015
the Year
the Year
(1)
the Year
the Year
2016
consolidation)
(1)
Exercise period
Other employees
October 2, 2009 4,968,000
(785,000)
(3,346,400)
–
–
836,600
S$0.335
October 2, 2011 to
in aggregate
(S$0.067)
October 1, 2019
Note:
(1)
The exercise price and the number of underlying Shares comprised in the outstanding ESOS II options were
adjusted pursuant to the consolidation of every five (5) issued and unissued ordinary shares of par value of
HK$0.20 each then into one (1) consolidated ordinary share of par value of HK$1.00 each, which became
effective on August 17, 2015.
None of the holders of outstanding share options granted under ESOS II are Directors.
The closing price of the Company’s shares immediately before the date on which the options were
exercised was S$0.180.
ESOS III was adopted by an ordinary resolution of the Shareholders at the special general meeting
of the Company held on July 30, 2013. No options have been granted under ESOS III since its
adoption. ESOS III will expire on July 29, 2023.
Under ESOS III, the period for the exercise of an option will commence after the first anniversary of
the date of grant and will expire on the tenth anniversary of such date of grant.
The vesting period of ESOS III is one year from and including the date of grant.
No participants to the above share options schemes received options representing 5% or more of
the total number of the underlying Shares comprised in the share options available for issue under
the above schemes.
No Executive Directors and employees of the Group have been granted options entitling them to
subscribe for more than 1% of the total issued Shares in the 12-month period up to and including
the date of grant.
