BUILDING LANDMARKS, CHARTING GROWTH
229
Annual Report 2015
NOTES TO THE FINANCIAL STATEMENTS
15 SHARE-BASED PAYMENT ARRANGEMENTS
(continued)
Perennial Employee Share Option Scheme 2014 (“Perennial ESOS 2014”)
(continued)
On 15 May 2015, the Company granted options to certain directors and employees of the Group to subscribe for a total
of 15,590,000 shares at $1.07 per share (based on Market Price). All options granted under the Perennial ESOS 2014 are
valid for a term of 5 years from the date of their grants and are exercisable in the following manner for eligible participants
who have been in employment with more than 12 months services as at date of grant:
• After 1
st
anniversary of the date of grant
– 25% of options granted
• After 2
nd
anniversary of the date of grant
– 25% of options granted
• After 3
rd
anniversary of the date of grant
– 25% of options granted
• After 4
th
anniversary of the date of grant
– 25% of options granted
For eligible participants who have been in employment with less than 12 months services as at date of grant:
• After 2
nd
anniversary of the date of grant
– 25% of options granted
• After 3
rd
anniversary of the date of grant
– 25% of options granted
• After 4
th
anniversary of the date of grant
– 25% of options granted
• After 4.5
th
anniversary of the date of grant – 25% of options granted
On 8 October 2015, the Company also granted 5,100,000 options at $0.95 per share (based on Market Price) to
Mr. Pua Seck Guan with the same validity and vesting periods. As at 31 December 2015, the total number of outstanding
options under the grant was 20,590,000.
At the end of the financial period, details of the options granted on the unissued ordinary shares of the Company are
as follows:
Unissued Shares under the Scheme
No. of
options
No. of
granted options
No. of
Exercise
As at during the lapsed/
options
As at
price per
Date of grant
1/7/2014
period cancelled exercised 31/12/2015
share Validity period
’000
’000
’000
’000
’000
$
26/10/2010 –
26/10/2009
360
–
(360)
–
–
0.15
25/10/2014
Unissued Shares under the Perennial ESOS 2014
No. of
options
No. of
granted options
No. of
Exercise
As at during the lapsed/
options
As at
price per
Date of grant
1/7/2014
period cancelled exercised 31/12/2015
share Validity period
’000
’000
’000
’000
’000
$
16/5/2016 –
15/5/2015
–
15,590
(100)
–
15,490
1.07
15/5/2020
9/10/2016 –
8/10/2015
–
5,100
–
–
5,100
0.95
8/10/2020
Total
–
20,690
(100)
–
20,590
The number of options granted during the period represents 1.25% of the total number of shares issued as at
31 December 2015.
