Annual Report 2006 - Venture Corporation Limited

eport of the directors
5 SHARE OPTIONS (Cont’d)
(iv) The following are details of options granted to the directors and employees of the group under the 1993
Scheme:
Name of
participant
i) Directors of the
company:
Number of options to subscribe for ordinary shares of the company
Aggregate
Aggregate Aggregate options
options options cancelled/
granted since exercised since lapsed since
commencement commencement commencement
of Scheme of Scheme of Scheme
to end of the to end of the to end of the
financial year financial year financial year
Options
granted
during the
financial year
Aggregate
options
outstanding
as at end of the
financial year
Wong Ngit Liong - 5,160,000 (4,375,000) (500,000) 285,000
Tan Choon Huat - 3,773,989 (3,568,989) - 205,000
Soo Eng Hiong - 3,523,989 (3,408,989) - 115,000
ii) Employees - 51,268,747 (38,729,254) (5,739,493) 6,800,000
Total - 63,726,725 (50,082,232) (6,239,493) 7,405,000
B) The Venture Corporation Executives’ Share Option Scheme (the “2004 Scheme”)
(i)
(ii)
(iii)
The 2004 Scheme in respect of unissued ordinary shares in the company was approved by the shareholders
of the company in an Extraordinary General Meeting on April 30, 2004.
Under the 2004 Scheme, an option entitles the option holder to subscribe for a specified number of
new ordinary shares in the share capital of the company, at the subscription price determined with
reference to the market price of the shares at the time of the grant of the option and adjusted for
certain premium depending on when the options are exercised, and may be exercised during the exercise
period applicable to those options and in accordance with a vesting schedule to be determined by the
Remuneration Committee on the date of the grant. No options have been granted at a discount.
Details of the unissued shares under options granted pursuant to the 2004 Scheme, options granted,
exercised and cancelled/lapsed during the financial year, and options outstanding as at December 31,
2006 were as follows:
Number of options to subscribe for ordinary shares of the company
Outstanding
at January
Date of grant 1, 2006 Granted Exercised
Cancelled/
Lapsed
Outstanding
at December
31, 2006
Subscription
price
per share
Exercisable
period
September 1,
2005
September 15,
2006
September 1, 2006
2,280,000 - - (346,000) 1,934,000 $18.288 (a)
$16.002 (c)
$16.764 (b) to August 31, 2010
September 15,
- 2,816,000 - (52,000) 2,764,000 $14.275 (d)
$11.420 (g)
$12.562 (e)
$11.991 (f)
2007 to September
14, 2011
2,280,000 2,816,000 - (398,000) 4,698,000
annual report 2006
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