Eng - IOI Group

Notes To The Financial Statements cont’d31. SHARE CAPITAL cont’d31.1 Executive Share Option Scheme cont’dd) Subscription priceThe subscription price shall be higher of the following:i. the weighted average market price of the IOI Shares for the 5 market days immediately preceding the OfferDate; orii.the par value of the IOI Shares;and subject to adjustments stipulated in the Bye-Laws, where applicable.e) Duration and termination of the ESOSi. The ESOS came into force on 23 November 2005 and shall be for a duration of 10 years.ii.The ESOS may be terminated by the Company prior to the expiry of its duration or tenure provided that thefollowing conditions have been satisfied:• the consent from the Company’s shareholders by ordinary resolution at a general meeting have beenobtained; and• the written consent from all Grantees who have yet to exercise their Option, either in part or in whole, havebeen obtained.f) Exercise of optioni. Options are exercisable only upon the expiry of the first anniversary of the Offer Date.ii.Options which are subject of the same Offer shall be exercisable only in 4 tranches over 4 years with a maximumof 25% of such options exercisable in any year.iii.Where the maximum of 25% within a particular year has not been exercised by the Grantee, the percentageunexercised shall be carried forward to subsequent years and shall not be subject to the maximum percentagefor the following year provided that such unexercised options shall not be carried forward beyond the optionperiod.iv.The Grantee shall be entitled to exercise all remaining options after the 9 th anniversary of the ESOS.193ANNUAL REPORT 2007IOI Corporation Berhad