170 | S P SETIA BERHAD GROUP | Annual Report 2014
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 October 2014
V. FINANCIAL STATEMENTS
22. SHARE CAPITAL (CONT’D)
The main features of the Scheme are as follows:
(a) The maximum number of new ordinary shares which may be made available under the Scheme at the point in time when an LTIP
award is offered shall not be more than fifteen percent (15%) of the issued and paid-up ordinary share capital of the Company.
(b) The LTIP awards shall be awarded after taking into consideration the employee’s position, contribution and performance (where
applicable) or such criteria as the LTIP Committee may deem fit subject to the following:
(i) that the number of new ordinary shares made available under the Scheme shall not exceed the amount stipulated in (a) above;
(ii) that not more than ten percent (10%) of the total new ordinary shares to be issued under the Scheme at the point in time when
an LTIP award is offered be allocated to any employee or Executive Director who, either singly or collectively through persons
connected with him, holds twenty percent (20%) or more in the issued and paid-up share capital of the Company.
(c) In the case of the ESGP, the shares will be vested with the grantee at no consideration on the vesting date; while in the case of
the ESOS, the option price will be determined based on the five (5) days volume weighted average market price of the ordinary
shares on the date the ESOS award is offered with a potential discount of not more than ten percent (10%) or at the par value of
the ordinary shares, whichever is higher.
(d) The shares granted under the ESGP will vest over four (4) years from the date of the LTIP award and the share options granted under
ESOS will vest over three (3) years from the date of the LTIP award.
The movement during the financial year in the number of shares and share options in which employees of the Group and the Company
is entitled to are as follows:
Lapsed At 31.10.2014
Lapsed At 31.10.2014