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Notes to the Financial Statements
31 December 2015
31 SHARE CAPITAL (CONTINUED)
(c) LTIP (continued)
The salient features of the LTIP are as follows:
(i) The maximum number of new shares which may be made available under the LTIP and/or allotted and issued upon vesting of the
new shares under the LTIP shall not, when aggregated with the total number of new shares allotted and issued and/or to be allotted
and issued under the existing ESOS, exceed 250,000,000 shares at any point of time during the duration of the LTIP;
(ii) The ESOS/LTIP Committee shall decide from time to time at its discretion to determine or vary the terms and conditions of the offer,
such as eligibility criteria and allocation for each grant (i.e. the entitlement to receive new shares under the LTIP), the timing and
frequency of the award of the grant, the performance target and/or performance conditions to be met prior to offer and vesting of the
grant and the vesting period;
(iii) The total number of new shares that may be offered under the LTIP shall be at the discretion of the ESOS/LTIP Committee;
(iv) In the event of any alteration in the capital structure of the Company except under certain circumstances, the ESOS/LTIP Committee
may make or provide for alterations or adjustments to be made in the number of unvested new shares and/or the method and/or
manner in the vesting of the new shares comprised in a grant;
(v) The LTIP shall take effect on the effective date of the implementation of the LTIP and shall be in force for a period of 10 years, expiring
on 31 July 2025;
(vi) The new shares to be allotted and issued pursuant to the LTIP shall, upon allotment and issuance, rank equally in all respects with
the then existing issued shares and the grant holders shall not be entitled to any dividends, rights, allotments, entitlements and/or any
other distributions, for which the entitlement date is prior to the date of issue of the shares; and
(vii) The share grants will only be vested to the eligible employees of the Group (including an executive director) who have duly accepted
the offer of grants under the LTIP, on their respective vesting dates, provided the following vesting conditions are fully and duly
satisfied:
• eligible employees of the Group (including an executive director) must remain in employment with the Group and shall not have
given notice of resignation or received a notice of termination of service as at the vesting dates.
• eligible employees of the Group (including an executive director) having achieved his/her performance target and/or
performance condition as stipulated by the ESOS/LTIP Committee and as set out in their offer of grants.
During the financial year, 8,376,000 PS Grant under the LTIP were granted to the eligible employees of the Group. Subject to the terms and
conditions of the By-Laws governing the LTIP, the employees shall be entitled to receive new ordinary share of RM0.10 each in the Company,
to be allotted and issued pursuant to the LTIP (“new shares”), upon vesting of the new shares after meeting the vesting conditions as set
out in the letter of offer for the shares under the LTIP. The vesting conditions comprising, amongst others, the performance targets and/or
conditions for the period commencing from 1 January 2015 and ending on 31 December 2017, as stipulated by ESOS/LTIP Committee. The
vesting date is on 30 April 2018, subject to meeting such performance targets.
