Goldis Berhad Annual Report 2013

Directors’ Report
For The Financial Year Ended 31 January 2013 (cont’d)
TREASURY SHARES
Shareholders of the Company had approved an ordinary resolution at the Annual General Meeting held on 21 June
2012 for the Company to repurchase its own shares up to a maximum of 10% of the issued and paid up capital of
the Company. The Directors of the Company were committed to enhancing the value of the Company and believed
that the repurchase plan was being applied in the best interest of the Company and its shareholders.
During the financial year, the Company repurchased 24,086,400 of its issued share capital from the open market for
RM48,827,314. The average price paid for the shares repurchased was approximately RM2.03 per share.
The repurchase transactions were financed by internally generated funds. The shares repurchased are being held
as treasury shares in accordance with Section 67A of the Companies Act, 1965. The Company has the right to
reissue these shares at a later date. As treasury shares, the rights attached as to voting, dividends and participation
in other distribution are suspended.
As at 31 January 2013, the number of outstanding ordinary shares in issue after the set off of treasury shares is
586,407,656 ordinary shares of RM1.00 each.
EMPLOYEES’ SHARE OPTION SCHEME
The Company’s Employees’ Share Option Scheme (“ESOS”) was approved by the shareholders at the Extraordinary
General Meeting held on 21 December 2001 and became effective on 20 May 2002, for a period of five years,
expired on 19 May 2007, in accordance with the ESOS By-Laws.
The Company’s ESOS Committee and the Board of Directors have approved an extension of the ESOS for a further
period of five (5) years from 20 May 2007 to 19 May 2012, to allow for additional time for the eligible employees
and Directors to exercise the remaining unexercised options and to continue to motivate and reward existing
employees of the Company.
The extended ESOS is implemented in accordance with the terms of the amended By-Laws of the Company which
was approved at the Extraordinary General Meeting on 22 June 2005. On that date, the Directors were authorised
to offer and grant options to the following Non-Executive Directors:
Datuk Tan Kim Leong @ Tan Chong Min
Pauline Tan Suat Ming
Tan Boon Lee
Daud Mah bin Abdullah @ Mah Siew Whye
The Company has been granted exemption by the Companies Commission of Malaysia vide their letter dated 6
March 2013 from having to disclose the list of option holders and their holdings pursuant to Section 169(11) of the
Companies Act, 1965, except for information of employees who were granted 100,000 options and above during
the financial year.
No employee of the Company and its subsidiaries has been granted 100,000 options and above under the ESOS
during the financial year.
Details of the ESOS are set out in Note 34(b) to the financial statements.
DIRECTORS
The Directors who have held office during the period since the date of the last report are as follows:
Tan Lei Cheng
Datuk Tan Kim Leong @ Tan Chong Min
Pauline Tan Suat Ming
Tan Boon Lee
Daud Mah bin Abdullah @ Mah Siew Whye
Tan Mei Sian (Alternate Director to Tan Boon Lee) (Appointed on 5 February 2013)
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ANNUAL REPORT 2013