Ecowise Annual Report 2007 - ecoWise Holdings Limited

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Notes to FinancialStatements31 October 20079. EARNINGS PER SHAREThe earnings per share is calculated by dividing the group’s profit attributable to shareholders by the weighted numberof shares of no par value in issue during the year.2007 2006$’000 $’000The calculation of the earnings per share is based on the following:Profit for the year attributable to the equity holders of the company 4,861 3,5472007 2006$’000 $’0009A) Number of sharesNumberNumberWeighted average number of ordinary shares for the purposeof basic earnings per share 82,898 78,627Adjustment for assumed conversion of:Share options and performance share 2,900 1,750Weighted average number of ordinary shares for the purposeof diluted earnings of share 85,798 80,3779B) Number of shares had the Rights Share been taken into considerationNumberNumberWeighted average number of ordinary shares for the purposeof basic earnings per share 320,839 304,286Adjustment for assumed conversion of:Share options, performance share and rights issue 11,224 6,773Weighted average number of ordinary shares for the purposeof diluted earnings of share 332,063 311,059Basic earnings per share ratio are based on the weighted average number of common shares outstandingduring each period. The diluted earnings per share are based on the weighted average number of commonshares and dilutive common share equivalents outstanding during each period. The common shareequivalents included in these calculations are (1) shares of common share issuable upon assumed exerciseof share options which would have a dilutive effect; (2) the average number of common shares assumed tobe outstanding during the year, as if the employee performance share place vested had been converted incommon shares and (3) Rights issue issued subsequent to the balance sheet date.62 • ecoWise Holdings Limited • Annual Report 2007
Notes to FinancialStatements31 October 200710. EMPLOYEE BENEFITS EXPENSEGroup2007 2006$’000 $’000Employee benefits expenses including directors 4,728 4,066Contributions to defined contribution plans 227 200Other benefits 50 39Share-based compensation expenses 784 –Total employee benefits expenses 5,789 4,30511. ITEMS IN THE INCOME STATEMENTIn addition to the charges and credits disclosed elsewhere in the notes to the financial statements, this item includesthe following charges:-Group2007 2006$’000 $’000Non-audit fees paid to auditors of the company 11 1112. SHARE BASED PAYMENTS(A)SHARE OPTIONS – THE SCHEME:The ecoWise Employee Share Option Scheme (“the Scheme”) was adopted by the members of the companyat an extraordinary general meeting held on 3 March 2003 which provides for the grant of incentive shareoptions to employees and executive directors (excluding Lee Thiam Seng and Sunny Ong Keng Hua).Under the Scheme, the maximum number of shares to be issued to eligible employees shall not exceed 10%of the issued shares of the company on the date preceding the grant of an option. The scheme allows theissue of options with a subscription price at a discount of up to 20% of the market price, or its nominal value,whichever is higher.An option may be exercised in whole or in part, after the first anniversary of the date of grant of that optionbut before the fifth anniversary of the date of grant of that option in the case of a Market Price Option, or afterthe second anniversary of the date of grant of that option but before the fifth anniversary of that date of grantof that option in the case of Incentive Option.The lapsing of option is provided for upon the occurrence of certain events, which includes :-(a)(b)(c)(d)(e)the termination of the grantee’s employment;the death of the grantee;a take-over of the company;the winding-up of the company (voluntary or otherwise); andthe breach by the grantee of any terms of the option.63
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ecoWise Holdings Limitedannual repo
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everything has BEAUTYbut not everyo
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Our biomass cogeneration plant at S
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Copper slag, the waste residue of c
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Our composting facility at Sarimbun
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Working to create a living planet.
Page 13 and 14: CHAIRMAN’SSTATEMENTRecovery of In
Page 16 and 17: FINANCIALHIGHLIGHTSFY2007 FY2006 FY
Page 18 and 19: OPERATIONSREVIEWReview of Financial
Page 20 and 21: BOARD OFDIRECTORS1 2 34 5 618 • e
Page 22 and 23: MANAGEMENTTEAMLee Thiam SengChief E
Page 24 and 25: CORPORATEGOVERNANCENewly appointed
Page 26 and 27: CORPORATEGOVERNANCEAccess to Inform
Page 28 and 29: CORPORATEGOVERNANCEFor the period u
Page 30 and 31: CORPORATEGOVERNANCEThe AC has power
Page 32 and 33: CORPORATEGOVERNANCERisk ManagementA
Page 34 and 35: REPORT OFTHE DIRECTORSThe directors
Page 36 and 37: REPORT OFTHE DIRECTORS5. OPTIONS TO
Page 38 and 39: REPORT OFTHE DIRECTORS5. OPTIONS TO
Page 40 and 41: STATEMENT OFDIRECTORSIn the opinion
Page 42 and 43: ConsolidatedIncome StatementYear En
Page 44 and 45: Statements OfChanges In EquityYear
Page 46 and 47: Consolidated CashFlow StatementYear
Page 48 and 49: Notes to FinancialStatements31 Octo
Page 92 and 93: SHAREHOLDINGSSTATISTICSAS AT 18 JAN
Page 94 and 95: Notice of AnnualGeneral MeetingECOW
Page 96 and 97: Notice of AnnualGeneral MeetingECOW
Page 98 and 99: ADDITIONALEXPLANATORY STATEMENTTO O
Page 100 and 101: ADDITIONALEXPLANATORY STATEMENTTO O
Page 102 and 103: ProxyFormECOWISE HOLDINGS LIMITEDRe
Page 104: H O L D I N G S L I M I T E DCo. Re
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Ecowise Annual Report 2007 - ecoWise Holdings Limited

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