annual report - Tenaga Nasional Berhad

34 SHARE CAPITAL (CONT’D.)Employees’ Share Option Scheme (‘ESOS’) (Cont’d.)The weighted average fair value of options granted during the year was determined using the Trinomial valuation model.The significant inputs into the model were as follows:expected5 year averageshare price Exercise Option dividend Risk free share priceGrant date at grant date price life yield interest rate movementrM rM Years % % %25.02.2005 8.24 7.75 8 1.14 3.64 21.5730.03.2005 8.00 7.42 8 1.14 3.33/3.72 22.1317.07.2005 8.56 7.80 7 1.14 3.40 19.4124.02.2006 8.70 7.33 7 1.14 3.43/3.63/3.77 24.0116.04.2006 8.65 7.33 7 1.14 3.55/3.96 18.0725.09.2006 9.91 9.19 6 1.14 3.86/3.95 18.5228.03.2007 11.50 11.07 6 1.14 3.48/3.50 17.5926.07.2007 10.95 11.56 6 1.14 3.48 17.4524.08.2007 10.29 11.24 6 1.14 3.60 19.9227.10.2007 9.28 9.19 6 1.14 3.56 17.4027.12.2007 9.54 9.19/10.72 6 1.14 3.64/3.79 17.4725.04.2008 6.76 6.33 5 1.14 3.37/3.45 20.3230.07.2008 8.35 7.33 5 1.14 3.73/3.89 22.42The charges to income statement arising from share-based payments during the financial year amounted to RM27.1million (2007: RM35.7 million) for the Group and RM25.4 million (2007: RM30.8 milion) for the Company as set out inNote 6 to these financial statements.R31.8.2008rM’000Ordinary share capital, at par 2,573Share premium 14,920Proceeds received on exercise of share options 17,493Fair value at exercise date of shares issued 23,359Special Rights Redeemable Preference Share (‘Special Share’)(a) The Special Share would enable the Government of Malaysia through the Minister of Finance Incorporated to ensurethat certain major decisions affecting the operations of the Company are consistent with the Government’s policies.The Special Shareholder, which may only be the Government or any representative or person acting on its behalf,is entitled to receive notices of meetings but not to vote at such meetings of the Company. However, the SpecialShareholder is entitled to attend and speak at such meetings.The Special Shareholder has the right to appoint any person, but not more than six at any time, to be the Boardof Directors of the Company.[ Tenaga Nasional Berhad ] [ Annual Report 2008 ]245