Annual Report 2008 年報 - Irasia.com

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2008
30. SHARE OPTION SCHEME (Continued)
These fair value of the share options granted on 24
January 2005, 13 October 2007 and 3 March 2008
were calculated using the Black-Scholes pricing model.
The inputs into the model were at the respective dates
of grant of options as follows:
30.
24 January
2005
13 October
2007
3 March
2008
Weighted average share price $0.31 $0.194 $0.156
Exercise price $0.342 $0.194 $0.159
Expected volatility 41.94% 91.32% 78.35%
Expected life 5 4 3.5
Risk-free rate 4% 3.75% 1.17%
Expected dividend yield 0% 0% 0%
Employee exit rate pre-vesting 10% N/A N/A
Expected volatility was determined by using the
historical volatility of the Company’s share price over
the previous 1 year prior to the date of grant of options.
The expected life used in the model has been adjusted,
based on management’s best estimate, for the
effects of non transferability, exercise restrictions and
behavioral considerations.
The Group recognised the total expense of
approximately HK$26,985,000 for the year ended 31
December 2008 (2007: HK$104,492,000) in relation to
share options granted by the Company.
At 31 December 2008, the Company had
1,823,989,000 share options (2007: 1,248,601,000
share options) outstanding under the Option
Scheme. The exercise in full of the outstanding
share options would, under the present capital
structure of the Company, result in the issue of
1,823,989,000 additional ordinary shares of HK$0.01
each of the Company and additional share capital of
HK$18,239,890 (2007: HK$12,486,010)and share
premium of approximately HK$84,414,210 (2007:
HK$216,163,254) (before share issue expenses).
26,985,000
104,492,000
1,823,989,000
1,248,601,000
1,823,989,0000.01
18,239,890
12,486,010
84,414,210
216,163,254
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