ASL Marine Holdings Ltd.
Annual Report 2016
59
Share options (cont’d)
(i)
Exercise Price (cont’d)
“Market Price” is defined as the average of the last dealt prices for a share, as determined by
reference to the daily official list or other publication published by the Singapore Exchange Securities
Trading Limited (the “SGX-ST”) for five consecutive market days immediately preceding the date on
which an offer to grant an option is made (the “Offer Date”) rounded up to the nearest whole cent in
the event of fractional prices.
(ii)
Option Exercise Period
Options granted with the exercise price set at Market Price are exercisable at any time, after
the first anniversary of the date of grant of that option and expiring on, in the case of options
granted to Non-Executive Directors and/or Associated Company Employees, the day preceding
the fifth anniversary of the relevant date of grant and for other than Non-Executive Directors and/
or Associated Company Employees, the day preceding the tenth anniversary of the relevant date
of grant.
Options granted with the exercise price set at a discount to the Market Price are exercisable at
any time, after the second anniversary of the date of grant and expiring on, in the case of options
granted to Non-Executive Directors and/or Associated Company Employees, the day preceding
the fifth anniversary of the relevant date of grant and for other than Non-Executive Directors and/
or Associated Company Employees, the day preceding the tenth anniversary of the relevant date
of grant.
Since the end of the previous financial year, there were no unissued shares of the Company or its
subsidiaries under options. There are no options outstanding under the 2003 Scheme.
Since the commencement of the 2012 Scheme until the end of the financial year:
• No options have been granted to the controlling shareholders of the Company and their associates;
• No participant has received 5% or more of the total options available under the 2012 Scheme;
• No options have been granted to Directors and employees of the holding company and its subsidiaries;
• No options entitle the holders to participate, by virtue of the options, in any share issue of any other
company; and
• No options have been granted at a discount.
ASL Marine Performance Shares Scheme
The ASL Marine Performance Shares Scheme (the “PSS”) was approved and adopted by the shareholders
at an Extraordinary General Meeting of the Company held on 20 July 2007. The PSS is administered by
the Committee of the Company.
Details of the PSS are set out in the circular dated 4 July 2007 which is available for inspection at the
registered office of the Company.
Since the end of the previous financial year, no award of shares was granted by the Company under
the PSS.
