Annual Report - QuamIR

Report of the Directors (Continued)
Share Option Schemes (Continued)
Share Options of subsidiary of the Company (Continued)
(e)
Period within which the shares must be taken up under an
option
An option must be exercised within ten years from the date on which it
is granted or such shorter period as the board of directors of CRE may
specify at the time of grant.
(e)
(f)
Minimum period, if any, for which an option must be held
At the time of the grant of an option, the board of directors of CRE
must specify the minimum period(s), if any, for which an option must be
held before it can be exercised.
(f)
(g)
Period open for acceptance of an option and amount
payable upon acceptance
An offer of the grant of an option shall remain open for acceptance for
a period of ten business days from the date of offer and a consideration
of HK$1.0 must be paid upon acceptance.
(g)
1.0
(h)
Basis of determining the subscription price of an option
The exercise price must be at least the higher of (i) the closing price of
the shares as stated in the Stock Exchange’s daily quotations sheet on
the date of grant; (ii) the average closing prices of the shares as stated
in the Stock Exchange’s daily quotation sheets for the five business
days immediately preceding the date of grant; and (iii) the nominal value
of a share.
(h)
(i)
(ii)
(iii)
(i)
Remaining life
The CRE Option Scheme has a life of ten years and will expire on 27
May 2018 unless otherwise terminated in accordance with the terms of
the CRE Option Scheme.
(i)
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