EMPLOYEES’ SHARE OPTION SCHEME
No options were granted to any person to take up unissued shares of the Company during the financial year apart from the issue of options pursuant to the ESOS. The ESOS which became effective on 1 January 1999 is made available to eligible employees of the Group. At an Extraordinary General Meeting held on 31 January 2002, the shareholders of the Company approved the proposed amendments to the Bye-Laws of its existing ESOS. The ESOS have since expired on 1 January 2009 and the options granted under the ESOS have lapsed.
The information with respect to the number of option granted to employees and Directors of the Company under the ESOS during the financial year are as follows:
[——————Option Of RM1.00 each———————] | |||||
Exercise price |
Balance as at |
Balance as at |
|||
Date of offer |
RM/Share |
1 January 2008 |
(Lapsed) |
(Exercised) |
31 December 2008 |
10 January 1999 |
2.30 |
1,600,000 |
-100,000 |
-1,500,000 |
– |
The Companies Commission of Malaysia had granted an exemption to the Company from having to disclose the name of the eligible employees who have been granted with options during the last financial year and the number of options granted to them in accordance with Section 169 (11)(a) of the Companies Act, 1965 except for eligible employees who have been granted with options to purchase 100,000 and more ordinary shares in last financial year. This information has been separately lodged to the Companies Commission of Malaysia.