Osim FR 050407.indd

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Directors’ Report (cont’d)Share options (cont’d)The movement in share options during the fi nancial year is as follows:Group and Company2006 2005At beginning of year 6,815,281 8,393,281Adjustment to share options arising from the bonus issue 1,124,863 –Granted during the year – –Lapsed during the year (431,800) (219,750)Exercised during the year (2,768,559) (1,358,250)At end of year 4,739,785 6,815,281During the fi nancial year ended 31 December 2006, 2,768,559 ordinary shares were issued at a weighted average exercise price of $0.06,upon the exercise of options granted pursuant to the Option Scheme.Details of all the options to subscribe for ordinary shares of the Company pursuant to the Option Scheme as at 31 December are asfollows:Exercise priceNumber of optionsExpiry date 2006 # 2005 2006 2005$ $26.12.2007 0.442 0.530 45,000 82,50015.02.2009 0.917 1.100 64,800 78,00014.01.2011 0.178 0.213 585,000 699,37629.08.2011 – 0.218 – 56,25014.01.2012 0.236 0.283 720,565 969,85515.08.2012 0.506 0.607 143,000 280,40026.12.2012 0.442 0.530 768,480 1,144,30018.06.2013 0.488 0.586 120,800 348,00015.02.2014 0.917 1.100 2,292,140 3,156,6004,739,785 6,815,281# Adjustments were made to the exercise price of the options, following the bonus issue of shares on the basis of 1 bonus share for every5 ordinary shares held in the capital of the Company.Since the commencement of the Option Scheme till the end of the fi nancial year:• No options have been granted to the controlling shareholders of the Company and their associates;• No participant has received 5% or more of the total options available under the Option Scheme;• No options that entitle the holder to participate, by virtue of the options, in any share issue of any other corporation have beengranted; and• No options have been granted at a discount.Directors’ Report 67Annual Report 2006
Directors’ Report (cont’d)Share options (cont’d)Details of the options to subscribe for ordinary shares of the Company granted to directors and employees of the Group and associatedcompanies pursuant to the Option Scheme are as follows:OptionsgrantedduringfinancialyearAggregate optionsgranted (includingbonus issue) sincecommencementof the OptionScheme to end offinancial yearAggregateoptionsexercised sincecommencementof the OptionScheme to endof financial yearAggregateoptionslapsed sincecommencementof the OptionScheme to endof financial yearAggregateoptionsoutstandingas at endof financialyearExerciseprice($)Name of directors Exercise periodCharlie Teo Chay Lee 15.01.2002 - 14.01.2011–247,500– –247,500 0.17815.01.2003 - 14.01.2012 – 247,500 – – 247,500 0.23627.12.2003 - 26.12.2012 – 198,000 – – 198,000 0.44216.02.2005 - 15.02.2014 – 95,040 – – 95,040 0.917Richard 15.01.2002 - 14.01.2011 – 247,500 (247,500) – – –Leow Lian Soon 15.01.2003 - 14.01.2012 – 247,500 (247,500) – – –27.12.2003 - 26.12.2012 – 198,000 (198,000) – – –16.02.2005 - 15.02.2014 – 95,040 (95,000) – 40 0.917Peter Lee Hwai Kiat 15.01.2002 - 14.01.2011 – 135,000 – – 135,000 0.17815.01.2003 - 14.01.2012 – 135,000 – – 135,000 0.23627.12.2003 - 26.12.2012 – 144,000 – – 144,000 0.44216.02.2005 - 15.02.2014 – 69,120 – – 69,120 0.917Michael 15.01.2002 - 14.01.2006 – 39,063 (39,063) – – –Kan Yuet Yun 15.01.2003 - 14.01.2007 – 39,063 (39,063) – – –27.12.2003 - 26.12.2007 – 31,250 (31,250) – – –16.02.2005 - 15.02.2009 – 21,600 – – 21,600 0.917Ong Kian Min 15.01.2002 - 14.01.2006 – 46,876 (46,876) – – –15.01.2003 - 14.01.2007 – 46,876 (46,876) – – –27.12.2003 - 26.12.2007 – 45,000 – – 45,000 0.44216.02.2005 - 15.02.2009 – 21,600 – – 21,600 0.917Khor Peng Soon 16.02.2005 - 15.02.2009 – 21,600 – – 21,600 0.917Staff 15.01.2002 - 14.01.2006 – 30,000 (30,000) – – –15.01.2002 - 14.01.2011 – 1,649,057 (1,294,682) (151,875) 202,500 0.17830.08.2002 - 29.08.2011 – 412,186 (348,436) (63,750) – –15.01.2003 - 14.01.2007 – 46,875 (46,875) – – –15.01.2003 - 14.01.2012 – 2,424,620 (1,852,180) (234,375) 338,065 0.23616.08.2003 - 15.08.2012 – 1,048,200 (695,600) (209,600) 143,000 0.50627.12.2003 - 26.12.2007 – 54,000 (54,000) – – –27.12.2003 - 26.12.2012 – 2,720,830 (1,875,450) (418,900) 426,480 0.44219.06.2004 - 18.06.2013 – 1,215,000 (835,200) (259,000) 120,800 0.48816.02.2005 - 15.02.2009 – 28,800 (28,800) – – –16.02.2005 - 15.02.2014 – 4,140,200 (1,136,060) (876,200) 2,127,940 0.91716,141,896 (9,188,411) (2,213,700) 4,739,785Directors’ Report 68Annual Report 2006
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Process and Performanceas the growt
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Customer Service Department“I put
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Sales Department“I look forward t
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Research & Development“Every prod
Page 17 and 18: Contents17 CEO’s Message22 The Ro
Page 19 and 20: ... ensuring that as we grow,they g
Page 21 and 22: previous year. Q4 2006 revenue rose
Page 23 and 24: The Role ModelsThe Role Models 22 A
Page 25 and 26: Ms Teo Sway HeongNon-Executive Dire
Page 27 and 28: Mr Peter Lee Hwai KiatMs Celine Cha
Page 29 and 30: Result of our Growth StrategyThe Gr
Page 31 and 32: Performance ReviewIn building a glo
Page 33 and 34: ProfitabilityIn FY2006, buoyant rev
Page 35 and 36: An Environment of GrowthMarch 2006
Page 38 and 39: Financial HighlightsOur goal is to
Page 40 and 41: Number of OutletsOSIM OutletsNorth
Page 42 and 43: Capital ExpenditureCapexS$’000 Le
Page 44 and 45: Corporate Structure as at 21 Februa
Page 46 and 47: OSIM Global NetworkSINGAPORECHINATA
Page 48 and 49: Corporate InformationBoard of Direc
Page 50 and 51: Non Executive DirectorMs Teo Sway H
Page 52 and 53: Corporate Governance Report 51 Annu
Page 54 and 55: The Company worked closely with a p
Page 56 and 57: New directors are at present appoin
Page 58 and 59: In 2006, the Audit & Risk Managemen
Page 60 and 61: The aggregate value of interested p
Page 63 and 64: Financial Contents64 Directors’ R
Page 65 and 66: Directors’ ReportFor the Year end
Page 67: Directors’ Report (cont’d)Share
Page 71 and 72: Directors’ Report (cont’d)Audit
Page 73 and 74: Independent Auditors’ Reportto th
Page 75 and 76: Balance Sheetsas at 31 December 200
Page 77 and 78: Consolidated Profit and Loss Accoun
Page 79 and 80: Statements of Changes in Equity for
Page 81 and 82: Consolidated Cash Flow Statementfor
Page 83 and 84: Consolidated Cash Flow Statement fo
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Notes to the Financial Statements -
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Major PropertiesUnexpiredterm ofDes
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Shareholdings Statistics as at 8 Ma
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Notice of Annual General Meeting (c
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Notice of Annual General Meeting (c
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Appendix (cont’d)DEFINITIONSIn th
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Appendix (cont’d)PROPOSED RENEWAL
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Appendix (cont’d)3.1.3 The Direct
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Appendix (cont’d)4. Rationale and
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Appendix (cont’d)11. ACTION TO BE
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OSIM INTERNATIONAL LTDCompany Regis
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SINGAPOREOSIM International Ltd65 U
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