FRENCKEN GROUP LIMITED
ANNUAL REPORT 2015
37
4 SHARE OPTIONS (CONT'D)
(a) Frencken Employee Share Option Scheme 2008 (Cont'd)
Options granted under the Scheme
Details of the options granted to executive directors of the Company are as follows:
Number of unissued ordinary shares of the Company under option
Name of director
Granted in
financial
year ended
31.12.2015
Aggregate
granted since
commencement
of scheme to
31.12.2015
Aggregate
exercised since
commencement
of scheme to
31.12.2015
Aggregate
outstanding
as at
31.12.2015
Hendrik Gezinus Tappel
-
1,150,000
-
1,150,000
Sim Mong Huat
-
510,000
-
510,000
Eligibility
Group Employees who have attained the age of twenty one (21) years on or prior to the relevant date of grant
and are not undischarged bankrupts and have not entered into a composition with their respective creditors,
and who have, as of the date of grant, been in the employment of the Group for a period of at least twelve (12)
months, or such shorter period as the Committee may determine, shall be eligible to participate in the Scheme
at the absolute discretion of the Committee. Controlling shareholders and their associates (as defined in Listing
Manual of the Singapore Exchange Securities Trading Limited) are not entitled to participate in the Scheme.
Size of the Scheme
The total amount of new shares over which the Committee may grant options on any date, when added to the
amount of new shares issued and issuable in respect of all shares available under the Scheme shall not exceed
15% of the number of issued shares of the Company on the day immediately preceding the date of grant of the
option. Any shares which are held as treasury shares will be disregarded for the purpose of computing the 15%
limit.
Exercise price and option period
The exercise price of the options is determined at a price which is set at a discount of 20% to the market price
(a price equal to the average of the last dealt prices for the shares on the Singapore Exchange Securities Trading
Limited over the last three consecutive trading days immediately preceding the date of grant of options). The
vesting of the options is conditional on the Group Employees completing another two (2) years of service to the
Group from the date of grant of options. Once the options are vested, they are exercisable for a period of eight
(8) years. The options may be exercised in full or in part in respect of 1,000 shares or a multiple thereof, on the
payment of the exercise price.
Except for Mr Sebastiaan Johannes (Jack) van Sprang, a former director of the Company, no participant under
the Scheme has received 5% or more of the total number of shares under option available under the Scheme.
DIRECTORS’ STATEMENT
(CONT’D)
