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FIMA CORPORATION BERHAD
(21185-P) |
Annual Report
2016
NOTES TO THE FINANCIAL
STATEMENTS 31 MARCH 2016
(contd.)
25. OTHER RESERVES (CONTD.)
(c) Equity Contribution from Parent (Contd.)
-
Restricted Share Grant Scheme (“RSGS”) (Contd.);
In implementing the RSGS, KFima has established a trust for the purposes of subscribing for the
new shares and transferring such new shares to the entitled employees as the Options Committee
shall direct.
Equity contribution from parent represents the equity-settled share options and shares granted by
KFima to the employees of the Group. The reserve is made up of the cumulative value of services
received from employees recorded on grant of share options and shares by KFima.
The eligibility criteria of the ESS are as follows:
(i) Full time employment in the Company or other company within the Group for more than one (1)
year;
(ii) A resident who is a citizen of Malaysia, non-citizen with permanent resident status or non-citizen
who holds a valid work permit in Malaysia and has entered into a full time or fixed term employment
with any company within the Group, having the designation of Manager or above;
(iii) If the employee is working under a fixed-term contract basis, the term of contract must not be
less than two (2) years and renewal of contract must take place six (6) months before expiration;
and
(iv) Fulfill such other criteria as determined by the Options Committee from time to time.
The ESS is for a period of 5 years and the Options Committee has the discretion to extend the
duration of the ESS for up to another 5 years provided that the scheme does not exceed 10 years in its
entirety.
(i) ESOS
The following table illustrates the number of share options (“No.”) and weighted average exercise
prices (“WAEP”) of, and movements during the financial year as disclosed in the financial
statements of Kumpulan Fima Berhad:
Movement of share options under ESOS during the financial year
Group
2016
2015
WAEP
WAEP
No.
(RM)
No.
(RM)
Outstanding at 1 April 2015/2014
9,128,200
1.64 10,485,200
1.54
- Granted
844,800
1.89 1,634,800
2.06
- Forfeited
(818,900)
1.77
(607,900)
1.81
- Exercised
(880,600)
1.48 (2,383,900)
1.53
Outstanding at 31 March
8,273,500
1.64 9,128,200
1.64
Exercisable at 31 March
8,736,000
1.68 7,210,200
1.62