16. CAPITAL AND RESERVES (CONTINUED) Share option reserve (continued) The salient features of the new ESOS are, inter alia, as follows: i) The allocation to any individual Eligible Person, who either individually or collectively, through persons connected with them, hold 20% or more of the total number of ordinary shares of the Company (excluding treasury shares), must not exceed 10% of the total number of new ESOS. ii) Not more than 50% of the total ordinary shares in the Company available under the new ESOS could be allocated, in aggregate to the Eligible Persons. iii) The new ESOS shall be in force for a period of five (5) years from the implementation date of 6 April 2021 and may be extended by the Board of Directors at its absolute discretion, without having to obtain approval from the shareholders of Company for a further period of up to 5 years, but not in aggregate exceeding 10 years from the implementation date or such longer period as may be allowed by the relevant authorities. iv) Subject to compliance with the Listing Requirements, guidelines or directives issued by Bursa Malaysia Securities Berhad and/or any of the relevant authorities, the Company may at any time during the duration of the ESOS terminate the ESOS and shall immediately announce to Bursa Malaysia Securities Berhad the effective date, number of ESOS and reasons for the termination. The options offered to take up unissued ordinary shares and the exercise price is as follows: Exercise price Number of options over ordinary shares Date of offer At 1.7.2021 Granted Exercised Forfeited/ Lapsed/ Terminated At 30.6.2022 12 April 2021 RM0.755 13,987,000 – (971,250) (680,400) 12,335,350 19 May 2021 RM0.635 10,000,000 – – – 10,000,000 1 March 2022 RM1.032 – 39,290,300 – – 39,290,300 23,987,000 39,290,300 (971,250) (680,400) 61,625,650 The number of options exercisable as at 30 June 2022 was 27,332,095 units (30.6.2021: 5,996,750 units) and have an exercise price in the range of RM0.635 to RM1.032 (30.6.2021: RM0.635 to RM0.755) and a weighted average contractual life of 5 (30.6.2021: 5) years. During the financial year, options to subscribe for 39,290,300 new ordinary shares have been granted to Eligible Persons pursuant to the ESOS. NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) DAGANG NeXCHANGE BERHAD 264
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