Maxis Berhad
Annual Report 2015
page
148
Notes to the Financial Statements
31 December 2015
31 SHARE CAPITAL (CONTINUED)
(b) ESOS (continued)
The weighted average fair value of share options granted during the financial year determined using a modified Black Scholes model was
RM0.68 (2014: RM Nil). The key inputs into the model were:
Group and Company
2015
Valuation assumptions:
Weighted average share price at date of grant (per share)
6.53
Exercise price (per share)
6.53
Expected volatility
11.38%
Expected share option life
4.2 years
Expected dividend yield per annum
3.2%
Risk-free interest rate per annum
4.0%
The volatility measured at the standard deviation of continuously compounded share returns is based on statistical analysis of daily share
prices since the Company’s Initial Public Offering (“Listing”).
Value of employee services received for issue of share options:
Group
Company
2015
RM’000
2014
RM’000
2015
RM’000
2014
RM’000
Share-based payment expense
12,065
2,389
12,065
2,389
Capitalised as investment in subsidiaries for
share-based payments allocated to the employees
of the subsidiaries
-
-
(12,065)
(2,389)
Total expense recognised as share-based payments
12,065
2,389
-
-
(c) LTIP
The Company’s LTIP is governed by the By-Laws which was approved by the shareholders on 28 April 2015 and is administered by the
ESOS/LTIP Committee which is appointed by the Board of Directors of the Company, in accordance with the By-Laws. The ESOS/LTIP
Committee may from time to time, offer LTIP to eligible employees (including an executive director) of the Group and includes any person
who is proposed to be employed as an employee of the Group (including an executive director).
The LTIP comprises a Performance Share Grant (“PS Grant”) and a Restricted Share Grant (“RS Grant”) which shall be in force for a period
of 10 years commencing from the effective date of the implementation of the LTIP. The LTIP took effect on 31 July 2015.
