Strength & Stability - ECS Holdings Limited

Share Options (Cont’d)
Except as disclosed, since the commencement of the option schemes:-
(i)
(ii)
(iii)
no option has been granted to the controlling shareholders of the Company or their associates;
no participant under the schemes has been granted 5% or more of the total options available under the schemes; and
no option has been granted to employees of subsidiaries under the schemes.
The options granted by the Company do not entitle the holders of the options, by virtue of such holdings, to any right to participate in any
share issue of any other company.
Except as disclosed above, there were:-
(i)
(ii)
(iii)
no options granted by the Company or its subsidiaries to any person to take up unissued shares in the Company or its subsidiaries;
no shares issued by virtue of any exercise of option to take up unissued shares of the Company or its subsidiaries; and
no unissued shares of the Company or its subsidiaries under option at the end of the financial year.
ECS Performance Share Scheme
The ECS Performance Share Scheme (the “Scheme”) was approved at the Company’s Extraordinary General Meeting held on 1 December
2006. The Scheme is administered by the Compensation Committee which comprises the Non-Executive Directors Messrs Koh Soo
Keong, Leong Horn Kee and Tan Hup Foi.
Group Executives who have attained the age of 21 years on or before the date of grant of the Award (as defined below), Group Executive
Directors and Non-Executive Directors are eligible to participate in the Scheme (“Participants”). The Scheme is to reward Participants by
award of existing Shares held as treasury shares in the Company (“Awards”), which are given free of charge to the Participants according to
the extent to which their performance targets set under the Scheme are achieved at the end of a specified performance period.
Since the commencement of the Scheme, no Awards have been granted.
Audit Committee
The members of the Audit Committee during the year and at the date of this report are:-
Leong Horn Kee
Tan Hup Foi
Koh Soo Keong
(Chairman, Independent director)
(Independent director)
(Independent director)
The Audit Committee performs the functions specified by section 201B of the Companies Act, the SGX Listing Manual and the Code of
Corporate Governance.
Directors’
Report
Annual Report 2008
p.
41