21. EMPLOYEE BENEFITS (continued) Share-based payment scheme Enterprise Option Scheme (“EOS”) On 15 June 2015, at an extraordinary general meeting, the Company’s shareholders approved the establishment of the EOS scheme to grant share options to eligible personnel. The EOS options granted in each year will vest in the participants over a 3-year period. Each EOS option gives the participant a right to receive one share, upon exercise of the option and subject to the payment of the exercise price. The exercise price for the EOS option granted shall be determined by the Board which shall be based on the 5-day weighted average market price of the underlying shares a day immediately preceding the date of offer with a discount of not more than 10% or such other percentage of discount as may be permitted by Bursa Securities or any other relevant regulatory from time to time (subject to the Board’s discretion to grant the discount). The EOS shall be in force for a period of 10 years from 22 June 2015. The movement in the number of outstanding EOS options are as follows: Key management personnel Other eligible employees Weighted average exercise price Number of options Weighted average exercise price Number of options ’000 ’000 2023 Outstanding at 1 January RM5.79 948 RM6.01 26,836 Granted during the year – – RM5.87 14,687 Forfeited during the year – – RM5.93 (5,661) Exercised during the year RM5.79 (948) – – Outstanding at 31 December – – RM5.96 35,862 Exercisable at 31 December – – RM6.09 13,288 2022 Outstanding at 1 January RM5.89 5,127 RM6.09 16,714 Granted during the year – – RM5.92 16,580 Forfeited during the year – – RM5.92 (1,311) Exercised during the year RM5.92 (4,179) RM6.03 (5,147) Outstanding at 31 December RM5.79 948 RM6.01 26,836 Exercisable at 31 December RM5.79 948 RM6.12 12,637 The EOS options outstanding as at 31 December has the following features: 2023 2022 Exercise price RM5.67–RM6.55 RM5.67–RM6.55 Weighted average contractual life (in years) 3.79 6.61 Annual Report 2023 185
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