Download Annual Report 2008 - Sembcorp

Directors’ReportYear Ended December 31, 2008SHARE-BASED INCENTIVE PLANS (cont’d)a. Share Option Plan (cont’d)v. Sembcorp Industries Ltd Share Option Plan (cont’d)Sembcorp Industries LtdOrdinary shares2007Number ofoptions holders /Options(includingExercise Options cancelled / Options number ofDate of grant price* outstanding at Options lapsed / outstanding at directors) atof options per share Jan 1, 2007 exercised not accepted Dec 31, 2007 Dec 31, 2007 Exercise period26/06/2000 S$1.63 961,908 (618,255) (37,700) 305,953 38 / (–) 27/06/2001 to 26/06/201024/07/2000 S$1.90 812,939 (444,325) (17,666) 350,948 31 / (–) 20/05/2001 to 19/05/200924/07/2000 S$1.76 39,066 (2) – 39,064 1 / (–) 16/09/2001 to 15/09/200919/04/2001 S$1.19 476,175 (210,025) (35,500) 230,650 25 / (–) 20/04/2002 to 19/04/201107/05/2002 S$1.23 178,000 (177,500) (500) – – / (–) 08/05/2003 to 07/05/200707/05/2002 S$1.23 572,075 (252,625) (25,200) 294,250 38 / (–) 08/05/2003 to 07/05/201217/10/2002 S$0.62 188,000 (187,000) (1,000) – – / (–) 18/10/2003 to 17/10/200717/10/2002 S$0.62 510,000 (338,000) (21,375) 150,625 23 / (–) 18/10/2003 to 17/10/201202/06/2003 S$0.78 227,250 (188,500) (2,000) 36,750 5 / (2) 03/06/2004 to 02/06/200802/06/2003 S$0.78 1,041,225 (637,375) (27,500) 376,350 64 / (1) 03/06/2004 to 02/06/201318/11/2003 S$0.93 245,750 (180,250) (2,500) 63,000 7 / (4) 19/11/2004 to 18/11/200818/11/2003 S$0.93 1,396,645 (737,020) (50,750) 608,875 151 / (1) 19/11/2004 to 18/11/201317/05/2004 S$0.99 266,250 (183,750) (3,500) 79,000 9 / (5) 18/05/2005 to 17/05/200917/05/2004 S$0.99 2,195,150 (933,723) (80,000) 1,181,427 253 / (1) 18/05/2005 to 17/05/201422/11/2004 S$1.16 268,750 (156,500) (5,000) 107,250 10 / (5) 23/11/2005 to 22/11/200922/11/2004 S$1.16 2,621,525 (1,028,625) (98,500) 1,494,400 253 / (1) 23/11/2005 to 22/11/201401/07/2005 S$2.37 282,500 (160,000) – 122,500 5 / (5) 02/07/2006 to 01/07/201001/07/2005 S$2.37 4,761,553 (2,099,131) (290,775) 2,371,647 351 / (1) 02/07/2006 to 01/07/201521/11/2005 S$2.36 317,500 (133,750) – 183,750 6 / (6) 22/11/2006 to 21/11/201021/11/2005 S$2.36 5,325,820 (2,249,930) (333,570) 2,742,320 396 / (1) 22/11/2006 to 21/11/201509/06/2006 S$2.52 525,000 (52,500) – 472,500 6 / (6) 10/06/2007 to 09/06/201109/06/2006 S$2.52 7,450,500 (2,636,205) (514,825) 4,299,470 601 / (1) 10/06/2007 to 09/06/201630,663,581 (13,604,991) (1,547,861) 15,510,729* The exercise prices for outstanding share options granted prior to April 27, 2007 were adjusted as a result of the Special Dividend paymentin 2007.SHARE-BASED INCENTIVE PLANS (cont’d)a. Share Option Plan (cont’d)v. Sembcorp Industries Ltd Share Option Plan (cont’d)The details of options of the Company awarded / exercised since commencement of the Scheme (aggregate) toDecember 31, 2008 were as follows:AggregateoptionsAggregate cancelled / Aggregate Aggregateoptions lapsed / options optionsOption participants granted not accepted exercised outstandingDirectorsPeter Seah Lim Huat 980,000 – (735,000) 245,000Tang Kin Fei 3,444,052 (607,759) 1 (2,136,293) 700,000Goh Geok Ling 370,000 – (222,500) 147,500Richard Hale, OBE 490,000 – (236,250) 253,750Yong Ying-I 235,000 (235,000) 2 – –Evert Henkes 94,000 – – 94,000Lee Suet Fern 105,000 – (35,000) 70,000Other executivesGroup 149,771,742 (68,365,208) (72,411,204) 8,995,330Associated company 748,600 (212,100) (533,500) 3,000Parent Group 3 378,500 (88,000) (265,500) 25,000Former directors of the Company 8,831,578 (2,148,328) (6,683,250) –Total 165,448,472 (71,656,395) (83,258,497) 10,533,5801. Options lapsed due to replacement of 1999 options and expiry of earlier options.2. Options not accepted due to civil service regulations.3. Parent Group refers to former employees of Singapore Technologies Pte Ltd. No options were granted to former employees of SingaporeTechnologies Pte Ltd since 2005.Since the commencement of the Share Option Plan, no options have been granted to the controlling shareholdersof the Company or their associates. No participant under the Share Option Plan has been granted 5% or more ofthe total options available. No options have been offered at a discount.The options granted by the Company do not entitle the holders of the options, by virtue of such holdings, to anyright to participate in any share issue of any company.96 Delivering Essential Solutions Sembcorp Industries Annual Report 2008 97