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24. ShARe CAPitAl AnD ShARe PRemium (Cont’D.)
31 January 2010
(a) ordinary shares issued pursuant to eSoS
During the year, the Company issued:
(i) 2,125,169 ordinary shares of RM0.20 each for cash pursuant to the Company’s Employee Share Options Scheme at the
exercise price of RM0.75 per ordinary share;
(ii) 2,197,600 ordinary shares of RM0.20 each for cash pursuant to the Company’s Employee Share Options Scheme at the
exercise price of RM0.54 per ordinary share;
(iii) 3,436,855 ordinary shares of RM0.20 each for cash pursuant to the Company’s Employee Share Options Scheme at the
exercise price of RM1.12 per ordinary share;
The share premium arising therefrom of RM5,077,950 have been included in the share premium account. The new ordinary
shares ranked pari passu in all respects with the existing ordinary shares of the Company.
The expiry and final exercise date of the ESOS was on 12 September 2009.
(b) ordinary shares issued pursuant to warrants
During the year, the Company issued 75,128,983 new ordinary shares of RM0.20 each through the Company’s Warrants at the
exercise price of RM0.71 per ordinary share. The share premium arising therefrom of RM38,315,863 have been included in the
share premium account. The new ordinary shares ranked pari passu in all respects with the existing ordinary shares of the
Company.
The expiry and final exercise date of the Warrants was on 18 February 2009.
25. emPloyee BeneFitS
employee Share options Scheme (“eSoS”)
The ESOS is governed by the by-laws approved by the shareholders at an Extraordinary General Meeting held on 19 February 2004,
and implemented on 13 September 2004.
The salient features of the ESOS are as follows:
(i) The ESOS shall be effective for a period of five years from the date of the implementation on 13 September 2004.
(ii) Eligible person are employees of the Group (including executive directors) who are employed by and is on the payroll of a
company within the Group (other than a company which is dormant) and has attained the age of 18 years. The eligibility for
participation in the ESOS shall be at the discretion of the Option Committee appointed by the Board of Directors.
(iii) The total number of shares to be issued under the ESOS shall not exceed 10% of the total issued and paid up share capital of the
Company at any one point of time during the tenure of the ESOS.
(iv) The option price for each share shall be the weighted average price of the shares of the Company in the daily official list issued
by Bursa Malaysia Securities Berhad for the five trading days immediately preceding the date of offer with an allowance for a
discount of not more than 10% therefrom at the Option Committee’s discretion, or the par value of the shares of the Company,
whichever is higher.
(v) The number of new ordinary shares in the Company allocated, in aggregate, to the executive directors and senior management
of the Group shall not exceed 50% of the total new ordinary shares available under the scheme.
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SapuraCrest Petroleum Berhad
Annual Report 2010