Page 86 - S P Setia Annual Report 2013
P. 86

84 | Financial Statements S P SETIA BERHAD GROUP Annual Report 2013



iSSUe OF SHaReS anD DeBentUReS

During the fnancial year, the Company increased its issued and paid-up share capital from RM1,504,250,938 to RM1,844,034,189 by way of :
(a) Issuance of 132,344,335 new ordinary shares of RM0.75 each for cash arising from the exercise of Warrants at RM2.99 per ordinary share;
(b) The issuance of 320,700,000 new ordinary shares of RM0.75 each for cash pursuant to the Company’s Placement at a subscription price of
RM2.94 per share. The shares were issued for the purpose of working capital.

The new ordinary shares rank pari passu in all respects with the existing ordinary shares of the Company.
The Company did not issue any debentures during the fnancial year.

emPlOYee SHaRe GRant Plan anD emPlOYee SHaRe OPtiOn ScHeme
The Company’s Long Term Incentive Plan (“LTIP” or “Scheme”) is governed by the By-Laws which was approved by the shareholders on 28
February 2013 and is administered by the LTIP Committee which is appointed by the board of directors, in accordance with the By-Laws. The LTIP
shall be in force for a period of 5 years to 9 April 2018, unless extended further.

The LTIP comprises the Employee Share Grant Plan (“ESGP”) and Employee Share Option Scheme (“ESOS”). The salient features, terms and details
of the LTIP are disclosed in note 23 to the fnancial statements.

During the fnancial year, the Company granted 17,035,000 shares under the ESGP and 80,864,000 share options under the ESOS to eligible
executive directors and eligible employees of the Company and/or its eligible subsidiaries. The details of the shares and options granted under
LTIP and its vesting conditions are disclosed in note 23 to the fnancial statements.
The Company has been granted an exemption by the Companies Commission of Malaysia from having to disclose the names who have been
awarded LTIP in aggregate of less than 1,222,640 shares. The names of option holders who were awarded LTIP shares of RM0.75 each of
1,222,640 and more during the fnancial year are as follows:

no. shares under the eSGP of Rm0.75 each
at Granted - at
1.11.2012 6.5.2013 Vested 31.10.2013
Dato’ Voon Tin Yow - 336,000 - 336,000
Dato’ Teow Leong Seng - 280,000 - 280,000
Dato’ Khor Chap Jen - 280,000 - 280,000
Datuk Ong Kek Seng - 280,000 - 280,000
Datuk Wong Tuck Wai - 280,000 - 280,000
Yap Kok Weng - 280,000 - 280,000
Hoe Mee Ling - 114,800 - 114,800
Datuk Koe Peng Kang - 85,560 - 85,560
Tan Hon Lim - 102,640 - 102,640
Norhayati Binti Subali - 97,640 - 97,640
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