Untitled - Swissco Holdings Limited

DIRECTORS’ REPORT
Share Options (continued)
(a)
Swissco Share Option Scheme (continued)
An employee who is a controlling shareholder of the Company or an associate of a controlling
shareholder shall be eligible to participate in the Scheme if (a) his participation in the Scheme and
(b) the actual number and terms of the options to be granted to him have been approved by the
independent shareholders of the Company in separate resolutions for each such person. The total
number of Scheme shares to be offered to the controlling shareholders and their associates shall
not during the entire operation of the Scheme exceed 25 per cent of the Scheme Limit and the
total number of shares to be offered to a participant who is a controlling shareholder or an associate
of a controlling shareholder shall not during the entire operation of the Scheme exceed 10% of the
Scheme Limit.
The subscription price for each Scheme share shall be the average of the last dealt prices of the
shares on the SGX-SESDAQ for the 5 consecutive market days immediately preceding the Date of
Grant in relation to an option granted to an employee or a director of the Group who is not a
controlling shareholder or an associate of a controlling shareholder.
In relation to an option granted to a person who is a controlling shareholder or an associate of a
controlling shareholder, the subscription price for each Scheme share shall be equal to the average
of the last dealt prices for the Company’s share for the 5 consecutive market days immediately
preceding the latest practicable date prior to the date of any circular, letter or notice to the
shareholders proposing to seek their approval of the grant of such options to such controlling
shareholder or, as the case may be, such associate.
Offers of options made to grantees, if not accepted by the grantees within 30 days will lapse. The
Scheme shall continue in operation for a maximum of 10 years commencing on the date which
the Scheme is adopted by the Company in general meeting, unless otherwise extended by the
shareholders by ordinary resolution in general meeting.
On 15 March 2005 and 29 April 2005, options on 565,000 and 600,000 shares with an exercise price
of $0.256 and $0.244 per ordinary share respectively were granted pursuant to the Scheme (“2005
Options”). The 2005 Options are exercisable from 15 March 2006 and 29 April 2006 and expire on
15 March 2015 and 29 April 2015 respectively. They include the options granted to the directors of
the Company for the number of shares as set out below:
Options granted for financial
Name of director year ended 31.12.2005
Yeo Chong Lin 300,000
Alex Yeo Kian Teong 300,000
Phillip Chan Yee Foo 80,000
Chiang Hai Ding 80,000
Rohan Kamis 80,000
Yeo Chong Lin and Alex Yeo Kian Teong are controlling shareholders of the Company.
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