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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;

and

(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:

ESGP

At 1.11.2013

Granted

Vested

Lapsed At 31.10.2014

’000

‘000

’000

’000

’000

Offer 1

15,434

-

(3,820)

(4,771)

6,843

Offer 2

1,080

-

(244)

(374)

462

Offer 3

-

13,108

-

-

13,108

16,514

13,108

(4,064)

(5,145)

20,413

ESOS

At 1.11.2013

Granted Exercised

Lapsed At 31.10.2014

’000

‘000

’000

’000

’000

Offer 1

79,361

-

(9,099)

(26,630)

43,632

Offer 2

1,503

-

(212)

(563)

728

Offer 3

-

3,312

-

-

3,312

80,864

3,312

(9,311)

(27,193)

47,672