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Gamuda Berhad (29579-T) • Annual Report 2012
28. Share capital (cont’d.)
The total number of warrants converted during the year is as follows:
Warrants 2010/2015
2012
2011
’000
’000
At beginning of year
249,254
250,637
Converted
(1,700)
(1,383)
At end of year
247,554
249,254
(c)
The Gamuda Berhad Employees’ Share option Scheme (“ESoS”) was approved by shareholders at the
Extraordinary General Meeting held on 5 July 2006 and became effective for 5 years from 6 July 2006 to 5
July 2011 (“Expiry Date”). The Expiry Date was subsequently extended to 5 July 2014 on 22 December 2009
pursuant to By-law 17.3 of the ESoS.
The principal features of the ESoS are as follows:
(i)
Eligible employees are full-time monthly paid employees and Executive Directors of the Group (including
contract and non-Malaysian employees with a minimum three years of contract of service) whose
employment has been confirmed. The selection of eligible employee for participation in the ESoS shall
be at the discretion of the options Committee.
(ii)
The ESoS shall be in force for a period of 5 years from 6 July 2006 subject however to any extension
or renewal for a further period of not exceeding 5 years commencing from the day after the date of
expiration of the original 5 years period as may be approved by all relevant parties.
(iii)
The total number of shares to be offered shall not exceed 10% of the issued and paid-up share capital
of the Company at any point of time during the duration of the ESoS.
(iv)
The subscription price under the ESoS shall be the weighted average market price of the shares as
shown in the Daily official List issued by the Bursa Malaysia Securities Berhad for the 5 market days
immediately preceding the date of offer of the options subject to a discount of not more than 10%, or at
par value of the share, whichever is higher.
(v)
The aggregate number of shares to be offered to an eligible employee in accordance with the ESoS
shall be determined at the discretion of the options Committee after taking into consideration, amongst
other factors, the position, performance, seniority and the length of service that the eligible employee
has rendered and subject to the maximum allowable allotment of shares for each eligible employee.
(vi)
The number of shares under the ESoS which remained unexercised or the option price or both may
be adjusted following any alteration in the capital structure of the Company during the option period,
whether such alteration is by way of capitalisation of profits or reserves, right issues, consolidation of
shares, sub-division of shares or reduction of capital or otherwise howsoever taking place, made by the
Company.
NoTES To ThE FINANCIAL STATEMENTS
31 July 2012