TANJUNG OFFSHORE BERHAD

NOTES TO THE FINANCIAL STATEMENTS
31 DECEMBER 2009
17. SHARE CAPITAL
GROUP AND COMPANY
Ordinary shares of RM0.50 each
91
TANJUNG OFFSHORE BERHAD (662315-U)
ANNUAL REPORT 2009
2009 2008
RM RM
Authorised:
Beginning of the year 200,000,000 200,000,000
End of the year 200,000,000 200,000,000
Issued and fully paid-up:
Beginning of the year 123,294,789 101,482,824
ESOS shares subscription during the year (Note i) 2,346,598 687,830
Right issue exercise (Note ii) - 20,488,965
Warrants exercise during the year (Note iii) 8,960 635,170
End of the year 125,650,347 123,294,789
Note i:
The Company’s ESOS came into effect on 02 August 2005. The ESOS shall be in force for a period of 5 years until 01 August
2010.
The principal features of the Bye-Law of ESOS are as follows:
a) The maximum number of options which may be allotted pursuant to the ESOS (“Options”) as approved by the Securities
Commission (“SC”) shall not exceed ten percent (10%) of the total issued and paid-up share capital of the Company at
any point in time during the duration of the ESOS.
b) Executive directors and employees of the Group and of the Company will be eligible to participate in the ESOS provided
that they fulfi ll the conditions for eligibility stipulated in the rules, terms and conditions contained in the Bye-Law (“Eligible
Employees”).
c) The maximum number of new shares that may be offered and allotted to an Eligible Employee shall be determined by the
ESOS Committee taking into consideration inter-alia, the Eligible Employee’s designation, job description, responsibilities
and seniority.
d) The subscription price of the options issued pursuant to ESOS shall be the higher of the following:
i) at a discount of not more than ten percent (10%) from the weighted average market price of the shares as shown
in the daily offi cial list issued by Bursa Malaysia Securities Berhad (“Bursa Securities”) for the fi ve (5) market days
immediately preceding the date of offer; or
iii) the par value of the shares.
e) The new shares to be allotted and issued upon any exercise of the options will, upon such allotment and issuance, rank
pari passu in all respects with the existing and issued shares except that the new shares so issued will not be entitled
to any dividends, rights, allotments and/or any other distributions which may be declared, made or paid to shareholders
prior to the date of allotment of the new shares. The new shares will be subjected to all provisions of the Articles in
relation to their transfer, transmission or otherwise. The options shall not carry any right to vote at a general meeting of the
Company.