Maxis Berhad
Annual Report 2015
page
150
Notes to the Financial Statements
31 December 2015
31 SHARE CAPITAL (CONTINUED)
(c) LTIP (continued)
Movement in the number of PS Grant under the LTIP is as follows:
Number of share grants over ordinary share of RM0.10 each in the Company
Grant date
Outstanding
as at
1.1.2015
’000
Granted
’000
Vested
‘000
Forfeited
’000
Outstanding
as at
31.12.2015
’000
Exerciseable
as at
31.12.2015
’000
31 July 2015
-
8,376
-
(91)
8,285
-
The weighted average fair value of share grants under the PS Grant based on observable market price was RM6.53 (2014: RM Nil).
Value of employee services received under the LTIP:
Group
Company
2015
RM’000
2014
RM’000
2015
RM’000
2014
RM’000
Share-based payment expense
4,098
-
4,098
-
Capitalised as investment in subsidiaries for share-based
payments allocated to the employees of the subsidiaries
-
-
(4,098)
-
Total expense recognised as share-based payments
4,098
-
-
-
(d) Incentive arrangement
Pursuant to the terms and conditions of the incentive arrangement which forms part of the employment contract which an eligible director
had entered into with the Company, the cash incentives payable to the eligible director were used to acquire shares of the Company from
the open market. During the financial year, 315,215 (2014: 687,175) shares of the Company were acquired from the open market, and are
currently held by CIMB Commerce Trustee Berhad or its nominee. Subject to fulfilment of the vesting conditions and the terms of the
incentive arrangement, these shares will vest on the eligible director on a deferred basis. In addition to the eligible director’s interest in these
shares, the eligible director is also deemed interested in such additional number of shares in the Company which shall only be determinable
in the future, to be acquired using future cash incentives payable to the eligible director, pursuant to the terms and conditions of such
incentive arrangement.
