Annual Report - Bina Puri

Notes to and Forming Part of the Financial Statements (Cont’d)19. CASH AND BANK BALANCESIncluded in cash and bank balances are:(a)(b)an amount of RM5,393,000 and RM61,000 (2006 : RM6,169,000 and Nil) for the Group and the Companyrespectively, held in special projects bank account from which withdrawals are restricted to contract expenditureincurred in respect of specific projects, andan amount of RM1,143,000 (2006 : RM2,172,000) for the Group maintained in a housing development account inaccordance with the Housing Developers (Housing Development Account) Regulations 1991.Withdrawals fromthe Housing Development Account are restricted to property development expenditure incurred in respect of thespecific development project.20. SHARE CAPITAL2007 2006Number of Nominal Number of Nominalshares value shares value‘000 RM’000 ‘000 RM’000AuthorisedOrdinary shares of RM1 each 100,000 100,000 100,000 100,000Issued and fully paidOrdinary shares of RM1 eachAt 1 January 80,925 80,925 80,925 80,925Issue of shares under ESOS at RM1 per share 1,741 1,741 – –At 31 December 82,666 82,666 80,925 80,925In December 2003, the Company implemented a Bina Puri Holdings Bhd’s Employees’ Share Option Scheme(“Scheme”) for eligible employees of the Group which is governed by the Bye-Laws of the Scheme and was approvedby the shareholders of the Company and the relevant authorities.The salient features of the Scheme are:(a)(b)The maximum number of shares to be offered and allotted under the Scheme shall not exceed 10% of the issuedand paid-up share capital of the Company at any point in time during the duration of the Scheme.The following persons are eligible to participate in the Scheme:(i)(ii)They must be at least eighteen (18) years of age on the Date of Offer;They must have been employed for a continuous period of at least one (1) year in the Group, includingprobation period and his employment as an Eligible Employee must have been confirmed in writing on theDate of Offer;(iii) If an Eligible Employee is employed by a company which is acquired by the Group during the duration of theScheme and becomes a subsidiary of the Company upon such acquisition, the Eligible Employee must havecompleted a continuous period of at least one (1) year in the Group following the date such companybecomes or is deemed to be a subsidiary;BINA PURI HOLDINGS BHDAnnual Report 200781