AVI-TECH EMPLOYEE SHARE OPTION SCHEME
The Company has on 6 July 2007 adopted the ESOS for eligible employees, including all Directors of the Company
and the Group. The ESOS complies with the relevant rules as set out in Chapter 8 of the Listing Manual of the
SGX-ST. The ESOS, which forms an integral and important component of a compensation plan, is designed to
primarily reward and retain executive Directors and employees whose services are vital to our well-being and success.
The ESOS is administered by the RC.
The aggregate number of shares over which the RC may grant options on any date, when aggregated with the
number of shares issued and issuable in respect of all options granted under the ESOS and any other share option
schemes of the Company, shall not exceed 15% of the issued shares of the Company (excluding treasury shares) on
the day preceding the date of the relevant grant.
The options that are granted under the ESOS may have exercise prices that are set at a price (the “
Market Price
”)
equal to the average of the last dealt prices for the shares on the Official List of the SGX-ST for the five (5)
consecutive market days immediately preceding the relevant date of grant of the relevant option of a Share; or
at a discount to the Market Price (subject to a maximum discount of 20%). Options which are fixed at the Market
Price may be exercised after the first anniversary of the date of grant of that option while options exercisable at a
discount to the Market Price may be exercised after the second anniversary from the date of grant of the option.
Options granted to employees of the Group under the ESOS will have a life span of ten (10) years. All other options
granted under the ESOS will have a life span of five (5) years.
Under the rules of the ESOS, executive and non-executive Directors (including independent Directors of the
Company) and employees of the Group and associated companies are eligible to participate in the ESOS. Subject
to specific approval of independent shareholders, controlling shareholders and their associates will also be eligible
to participate in the ESOS.
Participants of the ESOS who: (i) are Directors of the Company; (ii) are controlling shareholders of the Company
and their associates; or (iii) received options amounting to 5.0% or more of the total number of options available
under the ESOS are as set out below:
Name of Participant
Employee
Options granted
during financial
year under
review
Aggregate Options
granted since
commencement of
the ESOS to end
of financial year
under review
Aggregate Options
exercised since
commencement of
the ESOS to end
of financial year
under review
Aggregate
Options
outstanding
as at end of
financial year
under review
Lim Tai Meng, Alvin
(1)
–
90,000
–
90,000
Kwok Wai San, Philip
–
90,000
–
90,000
Desmond Ow
–
80,000
–
80,000
Lau Toon Hai
–
80,000
–
80,000
Ngo Yu Wei Allan
–
80,000
–
80,000
Lee Wee Meng
–
50,000
–
50,000
Kurien P Mathews
–
50,000
–
50,000
Ng Chin Kuay
–
50,000
–
50,000
Bambang H Sutedjo
–
50,000
–
50,000
Tan Kin Poh
–
50,000
–
50,000
Note
:
(1)
Mr Lim Tai Meng, Alvin is the son of Mr Lim Eng Hong, our CEO, Director and controlling shareholder.
The requirements of Rule 852(1)(c) and Rule 852(1)(d) of the Listing Manual of the SGX-ST are not applicable to the
Company.
29
AVI-TECH ELECTRONICS LIMITED
| ANNUAL REPORT 2015
CORPORATE
GOVERNANCE
