FY 2011 Annual Report - Sheng Siong
FY 2011 Annual Report - Sheng Siong
FY 2011 Annual Report - Sheng Siong
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68 <strong>Sheng</strong> <strong>Siong</strong> <strong>Annual</strong> <strong>Report</strong> <strong>2011</strong><br />
Notes to the Financial Statements<br />
20 Share option scheme (Continued)<br />
• The Remuneration Committee may grant options on a yearly basis and any such grants shall be made<br />
at least 60 days after the end of the financial year of the Company.<br />
• The period for the exercise (the “Exercise Period”) of an option granted under the Scheme shall be:<br />
a) in the case of an option granted at Market Price (the “Market Price Option”), a period commencing<br />
after the first anniversary of the relevant date of the grant and expiring on the fifth anniversary<br />
of such grant date, or such other period which may from time to time be prescribed under any<br />
relevant law, regulation or rule of the SGX-ST); and<br />
b) in the case of an option granted at a discount of up to 20% of the Market Price (the “Incentive<br />
Option”), a period commencing after the second anniversary of the relevant date of the grant<br />
and expiring on the fifth anniversary of such grant date, or such other period which may from<br />
time to time be prescribed under any relevant law, regulation or rule of the SGX-ST for such<br />
Incentive Options.<br />
During the current financial year, no share options were granted.<br />
21 Earnings per share<br />
<strong>2011</strong> 2010<br />
$’000 $’000<br />
Basic earnings per share is based on:<br />
Net profit from continuing operations attributable to<br />
ordinary shareholders 27,256 42,635<br />
No. of shares No. of shares<br />
’000 ’000<br />
Weighted average number of shares during the year 1,231,326 1,140,000<br />
For purposes of preparing the financial statements for the year ended 31 December 2010, the weighted average<br />
number of shares as at 31 December 2010 includes the shares issued to effect the acquisition of interests in<br />
common control entities pursuant to the Restructuring Exercise, on the basis that the restructuring had occurred<br />
as of the beginning of the earliest period presented.<br />
There were no potential dilutive ordinary shares in existence for the financial years ended 31 December 2010<br />
and <strong>2011</strong>.<br />
22 Segment reporting<br />
The Group operates in one segment which relates to the provision of supermarket supplies and supermarket<br />
operations. The Group’s operations are located in Singapore. The Malaysian subsidiary was inactive for the<br />
financial years ended 31 December 2010 and <strong>2011</strong>.