Annual Report 2012 - IOI Group

DIRECTORS’REPORTDirectors’ Interests (Continued)The movements of the options over the unissued ordinary shares of RM0.10 each in the Company granted under the ESOS to theDirectors in office at the end of the financial year were as follows:No. of options over ordinary sharesOptionpriceAs at1 July 2011 ExercisedAs at30 June 2012Direct InterestsTan Sri Dato’ Lee Shin Cheng RM2.44 7,691,400 (3,845,700) 3,845,700Lee Yeow Seng RM2.44 153,800 (153,800) –Lee Yeow Seng RM4.19 576,600 – 576,600Lee Yeow Seng RM5.00 2,650,000 – 2,650,000Lee Cheng Leang RM2.44 820,400 – 820,400Indirect InterestsTan Sri Dato’ Lee Shin Cheng RM2.44 3,050,200 (671,700) 2,378,500Tan Sri Dato’ Lee Shin Cheng RM4.19 1,602,700 (72,200) 1,530,500Tan Sri Dato’ Lee Shin Cheng RM5.00 2,813,000 – 2,813,000Directors’ BenefitsSince the end of the previous financial year, none of the Directors of the Company has received or become entitled to receive any benefit(other than the benefits as disclosed in Note 39 to the financial statements) by reason of a contract made by the Company or a relatedcorporation with the Director, or with a firm of which the Director is a member, or with a company in which the Director has a substantialfinancial interest except for any benefits which may be deemed to have arisen by virtue of the significant related party transactions asdisclosed in Note 39 to the financial statements.During and at the end of the financial year, no arrangement subsisted to which the Company is a party, with the object or objects ofenabling Directors of the Company to acquire benefits by means of the acquisition of shares in or debentures of the Company or anyother body corporate, except for the share options granted to the Directors of the Company pursuant to the Company’s ESOS.Statutory Information on the Financial Statements of the Group and ofthe CompanyBefore the income statements, statements of comprehensive income and statements of financial position of the Group and of theCompany were made out, the Directors took reasonable steps:i. to ascertain that proper action had been taken in relation to the writing off of bad debts and the making of provision for doubtfuldebts, and satisfied themselves that all known bad debts had been written off and that adequate provision had been made fordoubtful debts; andii.to ensure that any current assets, other than debts, which were unlikely to realise their book values in the ordinary course ofbusiness of the Group and of the Company have been written down to an amount which they might be expected so to realise.108IOI CORPORATION BERHADAnnual Report 2012