Annual Report 2012 - HKExnews

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Report of the Directors (Continued) The exercise price per share of the Company for each option granted shall be determined by the Board in its absolute discretion but in any event shall be at least the higher of: (1) the closing price of the shares as stated in the daily quotations sheets issued by the Stock Exchange on the date of offer for the grant of option (“Date of Grant”) which must be a trading day; (2) the average closing price of the shares as stated in the daily quotations sheets issued by the Stock Exchange for the five trading days immediately preceding the Date of Grant; and (3) the nominal value of the shares on the Date of Grant. Upon acceptance of the options, the grantee shall pay HK$1.00 to the Company as consideration for the grant. The acceptance of an offer of the grant of the option must be made within the date as specified in the offer letter issued by the Company, being a date not later than 10 business days from the date upon which it is made. The exercise period of any option granted under the Share Option Scheme shall not be longer than 10 years commencing on the date of grant and expiring on the last day of such 10-year period subject to the provisions for early termination as contained in the Share Option Scheme. The total number of new shares of the Company that may be issued upon exercise of all options to be granted under the Share Option Scheme and any other share options schemes of the Company shall not exceed 32,800,000 shares, which represents 10% of the shares in issue of the Company as at the date of this report. The maximum number of shares issued and to be issued upon exercise of the options granted and to be granted to each grantee under the Share Option Scheme (including exercised, cancelled and outstanding options) in any 12-month period shall not exceed 1% of the total number of Shares in issue. Any further grant of options in excess of this 1% limit shall be subject to issuance of a circular by the Company and approved by its shareholders in accordance with the GEM Listing Rules. During the year, no options were granted, exercised or lapsed under the Share Option Scheme, but a total of 5,250,000 options were cancelled or lapsed. As at 31 December 2012, the number of shares comprised in the outstanding options remained as 6,390,000. 44 FOCUS MEDIA NETWORK LIMITED Annual Report 2012
Report of the Directors (Continued) A summary of the movements of the share options granted under the Pre-IPO Share Option Scheme and Share Option Scheme during the year is as follows: Grantees Date of grant Vesting period Exercise period Exercise price Outstanding at 1 January 2012 Number of share options Granted during the year Exercised during the year Cancelled/ Lapsed during the year Outstanding at 31 December 2012 Market value per share immediately before the date of grant of option Percentage of total issued share capital as at 31 Dec 2012 Wong Hong Gay Patrick Jonathan 20 Dec 2011 Note 1 20 Dec 2011 to 19 Dec 2021 HK$0.724 328,000 — — — 328,000 0.72 0.10% Ngan Toi Yuk 20 Dec 2011 Note 1 20 Dec 2011 to 19 Dec 2021 30 Jun 2011 Note 2 28 Jul 2011 to 27 July 2021 HK$0.724 328,000 — — — 328,000 0.72 0.10% HK$0.72 3,280,000 — — — 3,280,000 N/A 1.00% Tam Kai Kwong Eric 20 Dec 2011 Note 1 20 Dec 2011 to 19 Dec 2021 30 Jun 2011 Note 2 28 Jul 2011 to 27 July 2021 HK$0.724 328,000 — — — 328,000 0.72 0.10% HK$0.72 1,804,000 — — — 1,804,000 N/A 0.55% Lee Sze Leong 20 Dec 2011 Note 1 20 Dec 2011 to 19 Dec 2021 Note 2 28 Jul 2011 to 27 July 2021 HK$0.724 328,000 — — — 328,000 0.72 0.10% HK$0.72 1,640,000 — — — 1,640,000 N/A 0.50% Chan Tsze Wah 20 Dec 2011 Note 1 20 Dec 2011 to 19 Dec 2021 HK$0.724 328,000 — — — 328,000 0.72 0.10% Lien Jown Jing Vincent 20 Dec 2011 Note 1 20 Dec 2011 to 19 Dec 2021 HK$0.724 328,000 — — — 328,000 0.72 0.10% Rosenkranz Eric Jon 20 Dec 2011 Note 1 20 Dec 2011 to 19 Dec 2021 HK$0.724 328,000 — — — 328,000 0.72 0.10% Chan Chi Keung Alan 20 Dec 2011 Note 1 20 Dec 2011 to 19 Dec 2021 HK$0.724 328,000 — — — 328,000 0.72 0.10% Employees 20 Dec 2011 Note 1 20 Dec 2011 to 19 Dec 2021 HK$0.724 5,736,000 — — 1,970,000 3,766,000 0.72 1.15% 30 Jun 2011 Note 2 28 Jul 2011 to 27 Jul 2021 HK$0.72 5,576,000 — — 1,869,600 3,706,400 N/A 1.13% Consultant 20 Dec 2011 Note 1 20 Dec 2011 to 19 Dec 2021 HK$0.724 3,280,000 — — 3,280,000 — 0.72 N/A Total 23,940,000 — — 7,119,600 16,820,400 Additional particulars of the Company’s Pre-IPO Share Option Scheme and Share Option Scheme are set out in note 18 to the Consolidated Financial Statements. FOCUS MEDIA NETWORK LIMITED Annual Report 2012 45
Page 2 and 3: Characteristics of the Growth Enter
Page 4 and 5: Corporate Information Board of Dire
Page 6 and 7: Chairman’s Statement (Continued)
Page 8 and 9: Chairman’s Statement (Continued)
Page 10 and 11: Financial Highlights & Summary Fina
Page 12 and 13: Management Discussion and Analysis
Page 20 and 21: Comparison Between Future Plans and
Page 22 and 23: Use of Proceeds The Company was inc
Page 24 and 25: Directors and Senior Management Pro
Page 32 and 33: Corporate Governance Report (Contin
Page 42 and 43: Report of the Directors (Continued)
Page 54 and 55: Independent Auditor’s Report (Con
Page 56 and 57: Consolidated Statement of Financial
Page 58 and 59: Statement of Financial Position As
Page 60 and 61: Consolidated Statement of Changes i
Page 62 and 63: Notes to the Consolidated Financial
Page 96 and 97:
Notes to the Consolidated Financial
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Notes to the Consolidated Financial
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Annual Report 2012 - HKExnews

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