0175 Geely Automobile Holdings Limited Annual Report 2011

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Annual Report 2011Geely Automobile Holdings LimitedNOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTSFor the year ended 31 December 201133. Share-based Payment TransactionsEquity-settled share option schemePursuant to an ordinary resolution passed at the annual general meeting of the Company held on 31 May 2002,a share option scheme (the “Scheme”) was adopted by the Company.The Scheme was adopted for the purpose of providing eligible participants with the opportunity to acquireproprietary interests in the Company and to encourage participants to work towards enhancing the value of theCompany and its shares for the benefit of the Company and its shareholders as a whole. All directors, full-timeemployees and any other persons who, in the sole discretion of the board of directors, have contributed or willcontribute to the Group are eligible to participate in the Scheme.The maximum number of shares to be issued upon exercise of all outstanding options granted and yet to beexercised under the Scheme and any other share option schemes of the Company must not in aggregate exceed30% of the issued share capital of the Company from time to time.Shares which may be issued upon exercise of all options to be granted under the Scheme or any other shareoption schemes adopted by the Company must not in aggregate exceed 10% of the shares of the Company inissue on the date of adoption.Unless approved by shareholders of the Company, the total number of shares of the Company issued and to beissued upon the exercise of the options granted to each participant (including both exercised and unexercisedoptions) under the Scheme or any other share option schemes adopted by the Company in any twelve monthperiod must not exceed 1% of the issued share capital of the Company.The period within which the options must be exercised will be specified by the Company at the time of grant.This period must expire no later than 10 years from the date of grant of the options. At the time of grant of theoptions, the Company may specify a minimum period for which an option must be held before it can be exercised.The offer of a grant of share options may be accepted within 5 business days from the date of offer, the offer isdelivered to that participant and the amount payable on acceptance of options is HK$1.For those options granted prior to 1 January 2010, approximately 33% of the options will be automatically vestedat the date of grant and the remaining 67% will be vested one year from the date of grant if the grantee remainsas an employee of the Group. For those options granted after 1 January 2010, one-tenth of options granted willvest in every year from the grant date with one-tenth of options being vested immediately at the date of grant.The subscription price for the shares under the Scheme shall be a price determined by the directors, but notless than the highest of (i) the closing price of shares as stated on the SEHK on the date of the offer of grant; (ii)the average closing price of the shares as stated on the SEHK’s daily quotations sheet for the five trading daysimmediately preceding the date of the offer of grant; and (iii) the nominal value of the shares.No options may be granted under the Scheme after the date of the tenth anniversary of its adoption.107
Annual Report 2011Geely Automobile Holdings LimitedNOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTSFor the year ended 31 December 201133. Share-based Payment Transactions (Continued)Equity-settled share option scheme (Continued)The following table discloses details of the Company’s share options under the Scheme held by directors andsenior employees and movements in such holdings:2011Exercise Outstanding Exercised Forfeited Transfer Outstanding Weighted averageExercisable price per at during during upon at Exercise share price atperiod share 1 January the year the year appointment 31 December date exercise dateHK$HK$DirectorsMr. Ang Siu Lun, 18 January 2010 to 4.07 11,000,000 – – – 11,000,000Lawrence 17 January 2020Mr. An Cong Hui 18 January 2010 to 4.07 – – – 9,000,000 9,000,00017 January 2020Mr. Gui Sheng Yue 18 January 2010 to 4.07 11,500,000 – – – 11,500,00017 January 2020Mr. Liu Jin Liang 18 January 2010 to 4.07 9,000,000 – – – 9,000,00017 January 2020Ms. Wei Mei 18 January 2010 to 4.07 – – – 3,000,000 3,000,00017 January 2020Mr. Yang Jian 18 January 2010 to 4.07 12,000,000 – – – 12,000,00017 January 2020Mr. Yin Da Qing, 18 January 2010 to 4.07 11,000,000 – – – 11,000,000Richard 17 January 2020Dr. Zhao Fuquan 8 May 2008 to 0.92 11,000,000 – – – 11,000,0007 May 201318 January 2010 to 4.07 11,000,000 – – – 11,000,00017 January 2020Mr. Lee Cheuk Yin, 18 January 2010 to 4.07 1,000,000 – – – 1,000,000Dannis 17 January 2020Mr. Song Lin 18 January 2010 to 4.07 1,000,000 – – – 1,000,00017 January 2020Mr. Yeung Sau Hung, 18 January 2010 to 4.07 1,000,000 – – – 1,000,000Alex 17 January 202079,500,000 – – 12,000,000 91,500,000108
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0175 Geely Automobile Holdings Limited Annual Report 2011

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