ANNUAL REPORT 2025 FINANCIAL STATEMENTS Notes to the Financial Statements (Cont’d) For the Financial Year Ended 31 March 2025 164 24. EMPLOYEE SHARE OPTION RESERVE (CONT’D) The option prices and the details in the movement of the options granted are as follows:- Not accepted Vesting At by At Period 1.4.2024 Granted employees Lapsed Exercised 31.03.2025 ’000 ’000 ’000 ’000 ’000 ’000 Tranche 1 - - 71,725 (4,315) (19,550) (9,113) 38,747 Tranche 2 1 year - 71,725 (4,315) (19,550) - 47,860 - 143,450 (8,630) (39,100) (9,113) 86,607 On 5 June 2024, the Company granted 143,450,000 share options under the ESOS, which were allocated into Tranche 1 and Tranche 2. Tranche 1 options were exercisable upon acceptance of the offer, while tranche 2 were exercisable after 1 year from the date of offering by 5 June 2025. The options which lapsed during the financial year were due to resignation of employees. The fair values of the share options granted were estimated using a binomial option pricing model, taking into account the terms and conditions upon which the options were granted. The inputs used in the measurement of the fair value at grant date were as follows:- Group Tranche 1 Tranche 2 Fair value of share options at the grant date (RM) 0.0705 0.0611 Weighted average ordinary share price (RM) 0.502 0.502 Exercise price of share option (RM) 0.446 0.446 Expected volatility (%) 27.930 27.930 Expected life (years) - 2 years Risk free rate (%) 3.430 3.430 Expected dividend yield (%) 13.760 13.760 Expected volatility has been based on an evaluation of the historical volatility of the Company’s share price over the last 2 years. Expected dividends are based on historical dividends. The expected life used in the model has been adjusted, based on management’s best estimate, for the effects of non-transferability, exercise restrictions and general behaviour of option holders. 25. FAIR VALUE RESERVE The fair value reserve of RM240,000 (2024 - RM240,000) represents change in fair value for other investment in club membership. 26. FOREIGN EXCHANGE TRANSLATION RESERVE The foreign exchange translation reserve arose from the translation of the financial statements of foreign subsidiaries whose functional currencies are different from the Group’s presentation currency.
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