Notes to the Financial Statements - Cahaya Mata Sarawak Bhd

Issue of Shares
During the fi nancial year, the Company increased its issued and paid-up ordinary share capital from RM329,445,840
to RM329,480,840 by way of the issuance of 35,000 new ordinary shares of RM1 each issued to eligible employees
of the Group under the Employees’ Share Option Scheme at an exercise price of RM2.20 per ordinary share for
cash.
The new ordinary shares issued during the fi nancial year rank pari passu in all respects with the existing ordinary
shares of the Company.
Employees’ Share Option Scheme
At an Extraordinary General Meeting held on 27 May 2010, the shareholders approved the Employees’ Share
Option Scheme (“ESOS”) for the granting of non-transferable options that are settled by physical delivery of the
ordinary shares of the Company, to eligible executive directors and eligible employees of the Company and/or
its eligible subsidiaries.
The salient features and other terms of the ESOS are disclosed in Note 38 to the fi nancial statements.
Pursuant to the Company’s ESOS which came into effect on 23 June 2010, the Company granted 20,196,500
share options under the ESOS. These options expire on 22 June 2015 and are exercisable at an exercise price of
RM2.20 per share if vesting conditions as detailed in Note 38 to the fi nancial statements are met.
The Company has been granted exemption by the Companies Commission of Malaysia from having to disclose
the names of option holders and their holdings, who have been granted options to subscribe for less than
800,000 ordinary shares of RM1 each.
The names of option holders granted options to subscribe for 800,000 or more ordinary shares of RM1 during the
fi nancial year are as follows:
Number of options over ordinary shares of RM1 each
At 1.1.2011 and 31.12.2011
Syed Hizam bin Syed Mahmood Ezzularab
Abdul-Moez Alsagoff 850,000
Isaac Lugun 850,000
Details of options granted to directors are disclosed in the section on Directors’ interests in this report.
Other Statutory Information
Directors’ Report
(a) Before the statements of comprehensive income and statements of fi nancial position of the Group and of
the Company were made out, the directors took reasonable steps:
(i) to ascertain that proper action had been taken in relation to the writing off of bad debts and the
making of provision for doubtful debts and satisfi ed themselves that all known bad debts had been
written off and that adequate provision had been made for doubtful debts; and
(ii) to ensure that any current assets which were unlikely to realise their value as shown in the accounting
records in the ordinary course of business had been written down to an amount which they might be
expected so to realise.
(b) At the date of this report, the directors are not aware of any circumstances which would render:
(i) the amount written off for bad debts or the amount of the provision for doubtful debts in the fi nancial
statements of the Group and of the Company inadequate to any substantial extent; and
(ii) the values attributed to the current assets in the fi nancial statements of the Group and of the Company
misleading.
Annual Report 2011 69