KOTRA INDUSTRIES BERHAD - Kotra Pharma

KOTRA INDUSTRIES BERHAD
(Incorporated in Malaysia)
Company No. : 497632 - P
DIRECTORS’ REPORT
ISSUES OF SHARES AND DEBENTURES
During the financial year,
(a)
(b)
(c)
the Company increased its authorised share capital from RM50,000,000 to
RM100,000,000 by the creation of 100,000,000 new ordinary share of RM0.50 each;
the Company increased its issued and paid-up share capital from RM28,120,928 to
RM28,123,428 by the allotment of 5,000 new ordinary shares of RM0.50 each at an
average exercise price of RM1.19 per ordinary share. The new ordinary shares issued
during the financial year ranked pari passu in all respects with the existing ordinary
shares of the Company; and
there were no issues of debentures by the Company.
OPTIONS GRANTED OVER UNISSUED SHARES
During the financial year, no options were granted by the Company to any person to take up
any unissued shares in the Company except for the share options granted pursuant to the
Employees’ Share Option Scheme.
EMPLOYEES’ SHARE OPTION SCHEME
An Employees’ Share Option Scheme (“ESOS”) was approved by the Securities Commission on
22 April 2003 and the shareholders at an Extraordinary General Meeting held on 10 July 2003.
The principal features of the ESOS are as follows:-
a. The maximum number of new ordinary shares of RM0.50 each to be offered shall not exceed
20% of the issued and paid-up share capital of the Company at any point of time during the
existence of the ESOS.
b. Eligible directors or employees of the Group are directors or employees of the Group who have
been confirmed in the service of the Group prior to the offer or, if the employee is employed
under contract basis, the contract should be for a duration of at least one (1) year.
c. No option shall be granted for less than 100 ordinary shares or more than 2,812,075 ordinary
shares to any individual eligible employee.
d. The option price may be subjected to a discount of not more than 10% of the average of the
mean market quotation of the shares as shown in the daily official list issued by Bursa
Malaysia Securities Berhad for the five trading days immediately preceding the offer date, or at
par value of the shares of the Company, whichever is higher.
e. An Option is personal to the grantee. Save and except as provided in Clause 20.1 of the By-
Laws, an Option shall be non-assignable and non-transferable.
f. The ESOS is in force for a period of 10 years from 24 July 2003 and expires on 23 July 2013.
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