Straco Corporation Limited • Annual Report 2014
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Information regarding the 2004 Scheme was as follows:
The exercise price of the options could be set at a discount to the market price not exceeding 20% of the market price in respect of options granted
at the time of grant;
The options could be exercised 1 year after the grant for market price options and 2 years for discounted options; and
The options granted would expire after 5 years for non-executive directors, and 10 years for executive directors and employees of the Company and its
subsidiaries.
As at 31 December 2014, a total of 10,970,000 shares were allotted pursuant to options which had been exercised and a total of 1,920,000 options had
lapsed/expired under the 2004 Scheme. Options to subscribe for a total of 19,230,000 options which have not yet been exercised remained outstanding.
The 2004 Scheme expired on 11 January 2014.
On 29 April 2014, the shareholders of the Company approved the adoption of a new share option scheme known as the “Straco Share Option Scheme
2014” (the “2014 Scheme”), the rules of which are set out in the Company’s circular to shareholders dated 11 April 2014. The 2014 Scheme is administered
by the Company’s Remuneration Committee, comprising of three directors, namely, Tay Siew Choon, Choong Chow Siong and Chua Soh Har.
Information regarding the 2014 Scheme is as follows:
The exercise price of the options can be the market price or at a discount to the market price not exceeding 20% of the market price in respect of
options granted at the time of grant;
The options are exercisable 1 year and 2 years after the grant for market price options and for discounted options respectively; and
The options granted will expire after 5 years for non-executive directors, and 10 years for executive directors and employees of the Company and its
subsidiaries.
DIRECTORS’ REPORT
