238 YINSON HOLDINGS BERHAD ACCOUNTABILITY 30. SHARE-BASED COMPENSATION PLANS (CONTINUED) (a) Employees’ Share Scheme 2015 (continued) The expected average life of options is based on historical information, which may not necessarily be indicative of the future exercise pattern that may occur. The expected volatility reflects the assumptions based on the historical volatility on the assumptions that this is indicative of future trends which may also not necessarily be the actual outcome. Movements in the number of share options over ordinary shares outstanding and their related weighted average exercise prices are as follows: Grant date At start of the financial year ‘000 Exercised ‘000 Lapsed ‘000 At end of the financial year ‘000 2025 28.9.2021 8,744 (781) (36) 7,927 2024 27.2.2019 11,875 (10,104) (1,771) - 22.1.2020 6,585 (12) (6,573) - 28.9.2021 9,943 (441) (758) 8,744 28,403 (10,557) (9,102) 8,744 During the previous financial year, the third and fourth offer of options lapsed on 27 February 2023 and 22 January 2024 respectively. For the financial year ended 31 January 2025, the weighted average share prices at the time of exercise of 781,300 (2024: 441,200) share options under the fifth offer of options was RM2.61 (2024: RM2.55) per share respectively. (b) Employees’ Share Scheme 2023 At the Annual General Meeting of the Company held on 13 July 2023, the shareholders of the Company approved the establishment of a new Employees’ Share Scheme 2023 (“ESS2023”) of up to 10% of the total number of issued of the Company (excluding treasury shares) for eligible Executive Directors and employees of the Group. The ESS2023 shall be in force for a period of five (5) years commencing from 1 November 2023. On 20 November 2023 and 24 September 2024, the NRC of the Company approved the allocation and award of 2023 Restricted Share Units (“2023 RSU Award”) and 2024 Restricted Share Units (“2024 RSU Award”), respectively. The 2023 RSU Award and the 2024 RSU Award are governed by the By-Laws of the ESS2023 approved by the shareholders on 13 July 2023. Under the 2023 RSU Award and the 2024 RSU Award, either performance bonuses in cash or ordinary shares in the Company (“Yinson Shares”) are awarded to the eligible employees and Executive Directors of the Group. The 2023 RSU Award and the 2024 RSU Award were granted and awarded to the eligible employees and Executive Directors of the Group on 1 December 2023 and 1 October 2024 respectively. The salient features of the 2023 RSU Award and the 2024 RSU Award are as follows: (i) The Restricted Share Units (“RSU”) under the 2023 RSU Award and and the 2024 RSU Award can be settled via issuance of Yinson Shares or bonus payout in cash. The RSUs awarded to the Executive Directors and Senior Management of the Group are settled via issuance of Yinson Shares. The RSUs awarded to other all other eligible employees are settled via bonus payout in cash. (ii) Not more than 80% of the maximum shares available under ESS2023 shall be allocated in aggregate to the Executive Directors and Senior Management.
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