ANNUAL%20REPORT%202015%20eng

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Directors’ Report Maximum entitlement of each participant Unless approved by the Shareholders, the total number of Shares issued and to be issued upon exercise of all outstanding options granted under the Share Option Scheme and any other share option schemes of the Company (including both exercised and outstanding options) to each participant in any 12-month period must not exceed 1% of the Shares in issue. Each grant of options to a Director, chief executive or substantial Shareholder or any of their respective associates must be approved by the independent non-executive Directors (excluding any independent non-executive Director who is the grantee of the options). Under the Share Option Scheme, the Company granted three batches of Share Options to its Director and employees. On 12 October 2011, the Company offered 3,000,000 and 34,500,000 Share Options to a Director and employees respectively, at the exercise price of HKD6.66 and 3,000,000 and 32,200,000 Share Options were accepted by a Director and employees respectively. On 28 November 2012, the Company granted another 5,000,000 and 17,750,000 Share Options to a Director and employees respectively at the exercise price of HKD3.92. As a result of the rights issue completed on 29 December 2014, adjustments were made to the exercise prices and the number of shares falling to be issued upon the exercise of the Share Options in accordance with the terms of the Share Option Scheme and the supplementary guidance issued by the Stock Exchange on 5 September 2005 regarding the adjustment of share options under rule 17.03(13) of the Listing Rules. A total of 48,100,000 Options were outstanding under the Share Option Scheme as at the completion of the rights issue. The exercise prices and the number of the shares falling to be issued under the outstanding Share Options were adjusted pursuant to Clause 11 of the Share Option Scheme (the “Option Adjustments”) with effect from 1 January 2015, and such adjustments have been reviewed and confirmed by the independent financial adviser of the Company, Somerley Capital Limited. Details of the adjustments are set out in Tables 25 and 26 below. On 10 June 2015, the Company granted another 60,000,000 and 94,750,000 Share Options to a Director and employees respectively at the exercise price of HKD0.445. The closing price of the shares immediately before the grant of Share Options on 10 June 2015 was HKD0.52 per Share. Further details of the grant are set out in note 27 to the consolidated financial statements. Annual Report 2015 99
Directors’ Report Details of the movements in Share Options of the Company during the year ended 31 December 2015 are as follows: Table 25. Director Name of Director Date of grant Exercise period Exercise price per share Adjusted exercise price per share (Note 4) Balance as at 1 January 2015 Adjusted balance on 1 January 2015 due to Rights Issue (Note 4) Granted during the year ended 31 December 2015 Number of Share Options Lapsed during the year ended 31 December 2015 Cancelled during the year ended 31 December 2015 Exercised during the year ended 31 December 2015 Balance as at 31 December 2015 Dr. Battsengel Gotov 12 October 2011 (Note 1) HKD6.66 HKD4.53 3,000,000 4,411,765 — — — — 4,411,765 28 November 2012 (Note 2) HKD3.92 HKD2.67 5,000,000 7,352,941 — — — — 7,352,941 10 June 2015 (Note 3) HKD0.445 — — — 60,000,000 — — — 60,000,000 Table 26. Employees of the Group other than the Directors Date of grant Exercise period Exercise price per share Adjusted exercise price per share (Note 4) Balance as at 1 January 2015 Adjusted balance on 1 January 2015 due to Rights Issue (Note 4) Granted during the year ended 31 December 2015 Number of Share Options Lapsed during the year ended 31 December 2015 Cancelled during the year ended 31 December 2015 Exercised during the year ended 31 December 2015 Balance as at 31 December 2015 12 October 2011 (Note 1) HKD6.66 HKD4.53 23,350,000 34,338,235 — 275,735 — — 34,062,500 28 November 2012 (Note 2) HKD3.92 HKD2.67 16,750,000 24,632,353 — — — — 24,632,353 10 June 2015 (Note 3) HKD0.445 — — — 94,750,000 — — — 94,750,000 100 Annual Report 2015
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(Incorporated in the Cayman Islands
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Company Profile Mongolian Mining Co
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Corporate Information BOARD OF DIRE
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Directors and Senior Management BOA
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Directors and Senior Management Gan
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Directors and Senior Management Une
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Directors and Senior Management SEN
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Group Structure 14 Annual Report 20
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Chairman’s Statement I believe th
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Management Discussion and Analysis
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Financial Summary SUMMARY DATA OF C
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Glossary and Technical Terms “FOT
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Glossary and Technical Terms “Ore
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Appendix I Technical details of the
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Appendix I Criteria Commentary •
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Appendix I Criteria Commentary Infr
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ANNUAL%20REPORT%202015%20eng

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