ANNUAL%20REPORT%202015%20eng

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Notes to Consolidated Financial Statements 26 SENIOR NOTES (Continued) The senior notes have been accounted for as a hybrid financial instrument containing both a derivative component and a liability component. The derivative component was initially recognised at its fair value of USD4,920,000, and the attributable transaction cost of USD107,000 was charged to profit or loss for the year ended 31 December 2012. The fair value of the derivative component as at 31 December 2015 was nil (2014: nil) which was presented as derivative financial instruments. The liability component was initially recognised at amortised cost of USD591,707,000, after taking into account attributable transaction costs of USD13,213,000. Fair value of the derivative component was valued by the directors with the reference to a valuation report issued by an independent business valuer based on the Binomial model. The Group is seeking a potential restructuring of the US$600,000,000 8.875% senior notes. The Group has appointed restructuring advisers to assist with negotiations with the holders of the senior notes and to achieve the debt restructuring in respect of the senior notes. Further details are set out in Note 2(b). 27 EQUITY-SETTLED SHARE-BASED PAYMENT TRANSACTIONS The Company has a share option scheme (“Share Option Scheme”) which was adopted on 17 September 2010 whereby the board of directors of the Group are authorised, at their discretion, invites eligible participants to receive options to subscribe for shares subject to the terms and conditions stipulated therein as incentives or rewards for their contributions to the Group. Under the Share Option Scheme, the Company may grant options to employees and directors, suppliers, customers and professional advisers of the Group to subscribe for shares of the Company. The exercise price of the options is determined by the board of directors of the Company at the time of grant, and shall be the highest of the nominal value of the shares, the closing price of the shares at the date of grant and the average closing price of the shares for the five business days immediately preceding the date of grant. The Share Option Scheme remains in force for a period of 10 years commencing on its adoption date and will expire on 12 October 2020. Annual Report 2015 175
Notes to Consolidated Financial Statements 27 EQUITY-SETTLED SHARE-BASED PAYMENT TRANSACTIONS (Continued) (a) The terms and conditions of the grants are as follows: Grant Date Number of options ’000 Vesting conditions Contractual life of options 12 October 2011 8,800 12 October 2011 12 October 2011 to 12 October 2012 to 12 October 2019 12 October 2011 8,800 12 October 2011 12 October 2011 to 12 October 2013 to 12 October 2019 12 October 2011 8,800 12 October 2011 12 October 2011 to 12 October 2014 to 12 October 2019 12 October 2011 8,800 12 October 2011 12 October 2011 to 12 October 2015 to 12 October 2019 28 November 2012 5,688 28 November 2012 28 November 2012 to 28 November 2013 to 28 November 2020 28 November 2012 5,688 28 November 2012 28 November 2012 to 28 November 2014 to 28 November 2020 28 November 2012 11,374 28 November 2012 28 November 2012 to 28 November 2015 to 28 November 2020 10 June 2015 38,688 10 June 2015 10 June 2015 to 10 June 2020 10 June 2015 38,688 10 June 2015 10 June 2015 to 10 June 2016 to 10 June 2020 10 June 2015 38,687 10 June 2015 10 June 2015 to 10 June 2017 to 10 June 2020 10 June 2015 38,687 10 June 2015 10 June 2015 to 10 June 2018 to 10 June 2020 Total share options 212,700 176 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 SEN
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Management Discussion and Analysis
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Sustainability Report OUR APPROACH
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Sustainability Report Fair operatin
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Sustainability Report Figure 3. HR
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Sustainability Report The Company
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Sustainability Report In September
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Sustainability Report Figure 5. LTI
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Sustainability Report Biodiversity
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Sustainability Report OUR COMMUNITY
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Corporate Governance Report BOARD O
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Corporate Governance Report SHAREHO
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Directors’ Report The Directors s
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Directors’ Report Risk Management
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Directors’ Report FINANCIAL STATE
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Directors’ Report DIRECTORS’ SE
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Directors’ Report DIRECTORS’ AN
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Directors’ Report The basis of el
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Directors’ Report Details of the
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Directors’ Report RIGHTS TO PURCH
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Directors’ Report At the time of
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Independent Auditor’s Report OPIN
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Consolidated Statement of Profit or
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Consolidated Statement of Financial
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Consolidated Cash Flow Statement Fo
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Notes to Consolidated Financial Sta
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