ENRICHING LIVES EXPANDING HORIZONS - Maxis

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166 Financial Statements NOTES TO THE FINANCIAL STATEMENTS 31 December 2011 Continued 28 SHARE CAPITAL (a) Share capital 2011 AND 2010 GROUP AND COMPANY ’000 RM’000 Authorised ordinary shares of RM0.10 each As at 1 January/ 31 December 12,000,000 1,200,000 (b) ESOS Pursuant to the ESOS implemented on 17 September 2009, the Company will make available new shares, not exceeding in aggregate 250,000,000 shares during the existence of the ESOS, to be issued under the options granted. The ESOS is for the benefit of eligible employees and eligible directors (executive and non-executive) of the Group and of the Company. The ESOS is for a period of 10 years and is governed by the ESOS Bye-Laws as set out in the Company’s Prospectus dated 28 October 2009 issued in relation to its initial public offering. An ESOS Committee comprising Directors of the Company has been set up to administer the ESOS. The ESOS Committee may from time to time offer share options to eligible employees and eligible directors of the Group and of the Company to subscribe for new ordinary shares of RM0.10 each in the Company. The salient features of the ESOS are as follows: (i) The total number of shares which may be issued under the ESOS shall not exceed in aggregate 10% of the Company’s issued and paid-up share capital at any time during the existence of the ESOS; (ii) Subject to the discretion of the Directors, any employee of the Company and its subsidiaries whose employment has been confirmed in writing and any director (executive or non-executive) of the Company, shall be eligible to participate in the ESOS; (iii) The number of new shares that may be offered under the ESOS shall be at the discretion of the Directors after taking into consideration the performance, seniority and number of years of service as well as the employees’ actual or potential contribution to the Group; (iv) In the event of a change in the capital structure of the Company except under certain circumstances, the Directors may make or provide for adjustments to be made in the option price and/or in the number of shares covered by outstanding options as the Directors at their discretion, may in good faith determine to be equitably required in order to prevent dilution or enlargement of the rights of the optionee or provide for adjustments in the number of shares to give the optionee the same proportion of the issued ordinary share capital of the Company to which the optionee was previously entitled; (v) The subscription price upon the exercise of the option under the ESOS shall be the weighted average market price quoted for the five market days immediately preceding the date on which the option is granted; (vi) The options have a contractual term of 10 years. All options shall become exercisable to the extent of one-third of the shares granted on each of the first three anniversaries from the date the option was granted provided the optionee has been in continuous service with the Group throughout the period; (vii) Subject to paragraph (vi) above, an optionee may exercise an option in whole or part in multiples of 100 shares only at such time in accordance with any guidelines as may be prescribed by the Directors from time to time; and
MAXIS BERHAD ANNUAL REPORT 2011 167 28 SHARE CAPITAL (CONTINUED) (b) ESOS (continued) (viii) The optionees have no right to participate by virtue of the options in any share issue of any other company. However, shares issued upon the exercise of an option shall rank pari passu in all respects with the then existing issued shares save that they will not entitle the holders thereof to receive any rights or bonus issues or dividends or distributions the entitlement date of which precedes the date of issue of the shares. Movements in the number of share options outstanding and its exercise price are as follows: NUMBER OF OPTIONS OVER ORDINARY SHARES OF RM0.10 EACH IN THE COMPANY OUTSTANDING OUTSTANDING EXERCISABLE GRANT EXPIRY EXERCISE AS AT AS AT AS AT DATE DATE PRICE 1.1.2011 GRANTED EXERCISED FORFEITED 31.12.2011 31.12.2011 RM/SHARE ’000 ’000 ’000 ’000 ’000 ’000 2011 1.7.2011 17.9.2019 5.45 0 11,620 0 (314) 11,306 81 The weighted average remaining contractual life for these options as at the reporting date is 7 years 8 months. The weighted average fair value of options granted during the financial year determined using a modified Black Scholes model was RM0.18. The key inputs into the model were: GROUP AND COMPANY 2011 Valuation assumptions: Weighted average share price at date of grant (per share) RM5.45 Exercise price (per share) RM5.45 Expected volatility 9.3% Expected option life 8.2 years Expected dividend yield per annum 6.2% Risk-free interest rate per annum 4.3% The volatility measured at the standard deviation of continuously compounded share returns is based on statistical analysis of daily share prices since the Company’s Initial Public Offering (“Listing”). Value of employee services received for issue of share options: 2011 NOTE GROUP COMPANY RM’000 RM’000 Share options granted during the financial year 668 668 Allocation to subsidiaries for share options granted to the employees of the subsidiaries 18 0 (668) Total expense recognised as share-based payment 668 0
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ENRICHING LIVES EXPANDING HORIZONS
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CONTENTS Introduction 2 Our Company
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MAXIS BERHAD ANNUAL REPORT 2011 3 I
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MAXIS BERHAD ANNUAL REPORT 2011 5 C
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MAXIS BERHAD ANNUAL REPORT 2011 7 I
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MAXIS BERHAD ANNUAL REPORT 2011 9 2
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MAXIS BERHAD ANNUAL REPORT 2011 11
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Maxis Berhad Annual Report 2011 77
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• ALIGNED TO CORPORATE STRATEGY A
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100 Financial Statements DIRECTORS
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106 Financial Statements INCOME STA
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108 Financial Statements STATEMENTS
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Page 118 and 119: 116 Financial Statements NOTES TO T
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216 Corporate Governance STATEMENT
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228 OUT OF TOWN NEVER OUT OF TOUCH
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230 Corporate Governance INTERNAL C
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236 Corporate Governance RISK MANAG
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238 Corporate Governance RISK MANAG
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240 Corporate Governance ETHICAL BU
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242 Analysis of Shareholdings DISTR
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244 Analysis of Shareholdings 30 LA
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246 Analysis of Shareholdings INFOR
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248 Other Information LIST OF PROPE
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250 Other Information DISCLOSURE OF
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280 Other Information MATERIAL CONT
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286 Other Information GLOSSARY 2G S
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288 Other Information GLOSSARY Cont
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290 MAXIS EXCLUSIVE PARTNERS CENTRA
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292 Other Information MAXIS EXCLUSI
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302 Annual General Meeting NOTICE O
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NOTES
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fold here STAMP Maxis Berhad (86757
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fold here STAMP Maxis Berhad (86757
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ENRICHING LIVES EXPANDING HORIZONS - Maxis

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