Maxis Berhad
Annual Report 2015
page
146
Notes to the Financial Statements
31 December 2015
31 SHARE CAPITAL
(a) Share capital
Group and Company
2015 and 2014
Number of shares
’000
Nominal value
RM’000
Authorised ordinary shares of RM0.10 each
As at 1 January/31 December
12,000,000
1,200,000
(b) ESOS
Pursuant to the ESOS implemented on 17 September 2009, the Company will make available new shares, not exceeding in aggregate
250,000,000 shares during the existence of the ESOS/LTIP, to be issued under the share options granted. The ESOS is for the benefit of
eligible employees and eligible directors (executive and non-executive) of the Group. The ESOS is for a period of 10 years and is governed
by the ESOS Bye-Laws as set out in the Company’s Prospectus dated 28 October 2009 issued in relation to its initial public offering.
An ESOS/LTIP Committee comprising Directors of the Company has been set up to administer the ESOS/LTIP. The ESOS/LTIP Committee
may from time to time offer share options to eligible employees and eligible directors of the Group to subscribe for new ordinary shares of
RM0.10 each in the Company.
The salient features of the ESOS are as follows:
(i) The total number of shares which may be issued under the ESOS shall not exceed in aggregate 250,000,000 shares during the
existence of the ESOS save and except for any circumstances which may be specified in the Bye-Laws;
(ii) Subject to the discretion of the Directors, any employee of the Company and its subsidiaries who has a written employment contract
and any director (executive or non-executive) of the Company, shall be eligible to participate in the ESOS;
(iii) The number of new shares that may be offered under the ESOS shall be at the discretion of the Directors after taking into consideration
the performance, seniority and number of years of service as well as the employees’ actual or potential contribution to the Group;
(iv) In the event of a change in the capital structure of the Company except under certain circumstances, the Directors may make or
provide for adjustments to be made in the share options price and/or in the number of shares covered by outstanding share options
as the Directors at their discretion, may in good faith determine to be equitably required in order to prevent dilution or enlargement of
the rights of the optionee or provide for adjustments in the number of shares to give the optionee the same proportion of the issued
ordinary share capital of the Company to which the optionee was previously entitled;
(v) The subscription price upon the exercise of the share options under the ESOS shall be the weighted average market price quoted for
the five market days immediately preceding the date on which the share options are granted;
(vi) The ESOS has a contractual term of 10 years. All share options shall become exercisable to the extent of one-third of the share
options granted on each of the first three anniversaries from the date the share options were granted provided the optionee has been
in continuous service with the Group throughout the period;
(vii) Subject to paragraph (vi) above, an optionee may exercise share options in whole or part in multiples of 100 shares only at such time
in accordance with any guidelines as may be prescribed by the Directors from time to time; and
