38
AVI-TECH ELECTRONICS LIMITED
| ANNUAL REPORT 2015
REPORT OF
THE DIRECTORS
5 SHARE OPTIONS (CONT’D)
(a)
Options to take up unissued shares (cont’d)
Avi-Tech Employee Share Option Scheme (the “Scheme”) (cont’d)
The following are participants who received 5% or more of the total number of ordinary share options
available under the Scheme:
Name of
participant
Options
granted
during the
financial year
Aggregate
options
granted since
commencement
of the Scheme
to the end of
the financial year
Aggregate
options
exercised since
commencement
of the Scheme
to the end of
the financial year
Aggregate
options
cancelled/lapsed
since
commencement
of the Scheme
to the end of
the financial year
Aggregate
options
outstanding as
at the end of
the financial year
Kwok Wai San Philip
–
90,000
–
–
90,000
Lim Tai Meng Alvin*
–
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
* Options granted to an associate of the Company’s controlling shareholder.
(b)
Unissued shares under option and options exercised
No unissued shares, other than as disclosed above, are under options at the end of the financial year.
During the financial year, there were no shares of the Company or any corporation in the Group issued
by virtue of the exercise of an option to take up unissued shares.
6 AUDIT COMMITTEE
The Audit Committee (the “Committee”) is chaired by Mr Michael Grenville Gray, an independent director,
and includes Mr Goh Chung Meng, an independent director and Mr Khor Thiam Beng, an independent
director. The Audit Committee has met 4 times and has reviewed the following, where relevant, with the
executive directors and external and internal auditors of the Company:
(a)
the external auditors’ audit plans;
(b)
the audit plan and results of the internal auditors’ examination and evaluation of the Group’s systems
of internal accounting controls;
(c)
the Group’s financial and operating results and accounting policies;
(d)
the financial statements of the Company and the consolidated financial statements of the Group before
their submission to the directors of the Company and external auditors’ report on those financial
statements;
