195 ANNUAL REPORT 2024 ADDITIONAL COMPLIANCE INFORMATION (cont’d) MATERIAL CONTRACTS There was no material contract entered into by the Group involving the interest of the Directors and/or major shareholders which was either still subsisting at the end of FYE 2024 or entered into since the end of the previous financial year. RECURRENT RELATED PARTY TRANSACTION OF A REVENUE OR TRADING NATURE (“RRPT”) During FYE 2024, there was no RRPT transacted which requires shareholders’ mandate. EMPLOYEE SHARE OPTION SCHEME (“ESOS”) The shareholders of our Company had via its Extraordinary General Meeting (“EGM”) held on 22 January 2024, approved the following: - (i) establishment of the ESOS of our Company of up to 15% of the total number of issued shares of our Company (excluding treasury shares) at any one time throughout the duration of the ESOS; and (ii) authorised our ESOS Committee to grant ESOS options to the eligible Directors and employees of our Group, subject to the ESOS By-Laws governing the ESOS. Our Company has currently implemented an ESOS since 22 April 2024 with a duration of 5 years from the date it was implemented. A total of 28,000,000 ESOS options, representing 3.5% of our then issued share capital, were granted on 22 April 2024 at the exercise price of RM0.90, being our IPO price, to the eligible Directors and employees, of which 26,620,000 were accepted by 101 eligible ESOS participants. In FYE 2024, a total of 3,147,900 ESOS options were exercised into Keyfield shares by 86 ESOS participants, leaving 23,472,100 ESOS options outstanding as at end of FYE 2024. By-law 6.1(f) of the ESOS states that not more than 50% of the total number of new Keyfield shares available under the ESOS shall be allocated in aggregate to the Directors and Senior Management of Keyfield and subsidiaries which are not dormant. Since the beginning of the ESOS and in FYE 2024, the actual percentage of ESOS options granted to Directors and senior management in FYE 2024 represented 49.3% of the total ESOS options granted.
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