Page 167 - S P Setia Annual Report 2016
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S P Setia Berhad Group                                                                                165
          Annual Report 2016




                                                                               Notes To The Financial Statements

                                                                                  For The Financial Year Ended 31 December 2016

          19.   SHARE CAPITAL (CONT’D.)
              ESOS


                                                   At 1.1.2016     Granted      Exercised       Lapsed   At 31.12.2016
                                                        ’000          ’000          ’000          ’000           ’000
               Offer 1                                26,340             -          (586)            -         25,754
               Offer 2                                   133             -          (133)            -             -
               Offer 3                                 2,380             -          (413)         (450)         1,517
               Offer 4                                15,500             -          (571)            -         14,929
               Offer 5                                     -         9,586             -             -          9,586
                                                      44,353         9,586         (1,703)        (450)        51,786

              The fair values of the shares and share options granted under the ESGP and ESOS to which FRS 2 applies were determined using the
              binomial model. The significant inputs into the model were as follows:


                                               ESGP                                         ESOS
                             Offer 1  Offer 2  Offer 3  Offer 4  Offer 5  Offer 1  Offer 2  Offer 3  Offer 4   Offer 5
               Exercise price     *        *        *        *        *   RM3.07 #  RM3.03 #  RM3.02  RM2.72  RM2.86
               Date of grant  6 May  19 August 31 October 20 August  17 August   6 May  19 August  31 October 20 August  17 August
                               2013     2013     2014      2015    2016     2013     2013      2014     2015     2016
               Fair value at
                 grant date  RM3.15   RM3.14   RM3.13   RM3.01   RM3.27   RM0.51   RM0.52   RM0.53   RM0.57   RM0.55
               Vesting
                 period/     2 years  2 years  2 years  2 years   1 year   3 years   3 years   2 years   1 year   1 year
                 Option life                                    5 months  6 months  6 months  6 months  6 months  3 months
               Weighted
                 average
                 share price
                 at grant date  RM3.42  RM3.37  RM3.35  RM3.02   RM3.17   RM3.42   RM3.37   RM3.35   RM3.02    RM3.17
               Expected
                 dividend
                 yield         4.1%     4.2%     3.3%     3.0%     5.3%     4.1%     4.2%      3.3%     3.0%     5.3%
               Risk free
                 interest
                 rates        3.21%    3.67%    3.71%    4.01%    3.40%     3.21%    3.67%    3.71%    4.01%    3.40%
               Expected
                 volatility  18.62%   18.82%    18.51%  21.34%   22.88%    18.62%   18.82%   18.51%   21.34%   22.88%

              *    The shares under the ESGP will vest with the grantee at no consideration on the vesting date
              #    Adjusted for effect of DRP
              The expected life of the shares and share options are based on historical data and is not necessarily indicative of the exercise patterns
              that may occur. The expected volatility reflects the assumption that the historical volatility is indicative of future trends, which may
              also not necessarily be the actual outcome. No other features of the shares and/or share options granted were incorporated into the
              measurement of fair value.
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