Maxis Berhad | Annual Report 2012

Maxis Berhad // Annual Report 2012 160 31 SHARE CAPITAL (CONTINUED) (b) ESOS (continued) The salient features of the ESOS are as follows: (continued) (iii) The number of new shares that may be offered under the ESOS shall be at the discretion of the Directors after taking into consideration the performance, seniority and number of years of service as well as the employees’ actual or potential contribution to the Group; (iv) In the event of a change in the capital structure of the Company except under certain circumstances, the Directors may make or provide for adjustments to be made in the share options price and/or in the number of shares covered by outstanding share options as the Directors at their discretion, may in good faith determine to be equitably required in order to prevent dilution or enlargement of the rights of the optionee or provide for adjustments in the number of shares to give the optionee the same proportion of the issued ordinary share capital of the Company to which the optionee was previously entitled; (v) The subscription price upon the exercise of the share options under the ESOS shall be the weighted average market price quoted for the five market days immediately preceding the date on which the share options are granted; (vi) The share options have a contractual term of 10 years. All share options shall become exercisable to the extent of one-third of the shares granted on each of the first three anniversaries from the date the share options were granted provided the optionee has been in continuous service with the Group throughout the period; (vii) Subject to paragraph (vi) above, an optionee may exercise share options in whole or part in multiples of 100 shares only at such time in accordance with any guidelines as may be prescribed by the Directors from time to time; and (viii) The optionees have no right to participate by virtue of the share options in any share issue of any other company. However, shares issued upon the exercise of the share options shall rank pari passu in all respects with the then existing issued shares save that they will not entitle the holders thereof to receive any rights or bonus issues or dividends or distributions the entitlement date of which precedes the date of issue of the shares. Movements in the number of share options outstanding and their exercise prices are as follows: Number of options over ordinary shares of RM0.10 each in the Company Outstanding Outstanding Exercisable Grant Expiry Exercise as at as at as at date date price 1.1.2012 Granted Exercised Forfeited 31.12.2012 31.12.2012 RM/share ’000 ’000 ’000 ’000 ’000 ’000 2012 1.7.2011 17.9.2019 5.45 11,306 – (571) (656) 10,079 3,347 1.7.2012 17.9.2019 6.41 – 20,415 (2) (593) 19,820 255 11,306 20,415 (573) (1,249) 29,899 3,602 Weighted average exercise price (RM per share) 5.45 6.41 5.45 5.91 6.09 5.52 2011 1.7.2011 17.9.2019 5.45 – 11,620 – (314) 11,306 81 The share options exercised during the financial year resulted in 572,900 shares (2011: Nil) being issued and the related weighted average share price at the date of exercise was RM6.77 (2011: RM Nil) per share. The weighted average remaining contractual life for the share options as at the reporting date is 6 years 8 months (2011: 7 years 8 months). NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2012 Continued