Maxis Berhad | Annual Report 2012

Maxis Berhad // Annual Report 2012 87 FINANCIAL STATEMENTS CORPORATE GOVERNANCE ANALYSIS OF SHAREHOLDINGS OTHER INFORMATION ANNUAL GENERAL MEETING DIVIDENDS (CONTINUED) Subsequent to the financial year, on 26 February 2013, the Directors declared a fourth interim single-tier tax-exempt dividend of 8.0 sen per ordinary share in respect of the financial year ended 31 December 2012 which will be paid on 29 March 2013. The financial statements for the financial year ended 31 December 2012 do not reflect these dividends. Upon declaration, the cash dividend payment will be accounted for in equity as an appropriation of retained earnings during the financial year ending 31 December 2013. The Directors recommend the payment of a final single-tier tax-exempt dividend of 8.0 sen per ordinary share in respect of the financial year ended 31 December 2012, which is subject to shareholders’ approval at the forthcoming Annual General Meeting, and will be paid on a date to be determined. RESERVES AND PROVISIONS All material transfers to or from reserves and provisions during the financial year have been disclosed in the financial statements. SHARE CAPITAL During the financial year, the issued and paid-up share capital of the Company was increased from 7,500,000,000 ordinary shares of RM0.10 each to 7,500,572,900 ordinary shares of RM0.10 each by the issuance of 572,900 new ordinary shares for cash pursuant to the exercise of share options under the Employee Share Option Scheme (“ESOS”), detailed as follows: Number of issued and paid-up ordinary shares of RM0.10 each Exercise price per share 570,500 RM5.45 2,400 RM6.41 These new ordinary shares issued during the financial year ranked pari passu in all respects with the existing ordinary shares of the Company. EMPLOYEE SHARE OPTION SCHEME Pursuant to the ESOS implemented on 17 September 2009, the Company will make available new shares, not exceeding in aggregate 250,000,000 shares during the existence of the ESOS, to be issued under the share options granted. The ESOS is for the benefit of eligible employees and eligible directors (executive and non-executive) of the Group and of the Company. The ESOS is for a period of 10 years and is governed by the ESOS Bye-Laws as set out in the Company’s Prospectus dated 28 October 2009 issued in relation to its initial public offering. An ESOS Committee comprising Directors of the Company has been set up to administer the ESOS. The ESOS Committee may from time to time offer share options to eligible employees and eligible directors of the Group and of the Company to subscribe for new ordinary shares of RM0.10 each in the Company. Details of the ESOS are disclosed in Note 31(b) to the financial statements. During the financial year, the following allocations were made by the Company in relation to its ESOS: Quantity Share options ’000 Total outstanding as at 1 January 2012 11,306 Total granted 20,415 Total exercised (573) Total forfeited (1,249) Total outstanding as at 31 December 2012 29,899