DIRECTORS’ STATEMENT
58
ASL Marine Holdings Ltd.
Annual Report 2016
Directors’ interests in shares and debentures (cont’d)
Direct interest
Deemed interest
At the
At the
At the
At the
beginning of
end of
beginning of
end of
Name of Directors
financial year financial year financial year financial year
Hongda Investment Pte. Ltd.
(Ordinary shares)
Ang Kok Tian
–
–
3,000,000
3,000,000
Ang Ah Nui
–
–
3,000,000
3,000,000
Ang Kok Eng
–
–
3,000,000
3,000,000
Ang Kok Leong
–
–
3,000,000
3,000,000
There was no change in any of the above-mentioned interests between the end of the financial year and
21 July 2016.
By virtue of Section 7 of the Singapore Companies Act, Chapter 50, Ang Kok Tian, Ang Ah Nui, Ang Kok
Eng and Ang Kok Leong are deemed to have interests in the shares of the subsidiaries of the Company.
Except as disclosed in this report, no Director who held office at the end of the financial year had interests
in shares, share options, warrants or debentures of the Company, or of related corporations, either at the
beginning of the financial year or at the end of the financial year.
Share options
The ASL Employee Share Option Scheme 2012 (the “2012 Scheme”) was approved and adopted
by the shareholders at an Extraordinary General Meeting of the Company held on 25 October 2012.
The 2012 Scheme replaced the ASL Employee Share Option Scheme (the “2003 Scheme”) adopted
by the shareholders at an Extraordinary General Meeting of the Company held on 23 January 2003.
The 2012 Scheme is administered by the Remuneration Committee (the “Committee”) comprising three
Independent Directors, Tan Sek Khee, Andre Yeap Poh Leong and Christopher Chong Meng Tak.
Details of the 2012 Scheme are set out in the circular dated 8 October 2012 which is available for inspection
at the registered office of the Company.
Other information regarding the 2012 Scheme is set out below:
(i)
Exercise Price
The exercise price for each share in respect of which an option is exercisable shall be fixed by the
Committee in its absolute discretion at:
(a)
the Market Price; or
(b)
a price which is set at a discount to the Market Price, the quantum of such discount to be
determined by the Committee in its absolute discretion, provided that the maximum discount
which may be given in respect of any option shall not exceed 20% of the Market Price and
is approved by the shareholders in a general meeting in a separate resolution in respect of
that option.
