Enterprise Management Incentives Scheme (EMIs)
The board grants options to purchase ordinary shares in the company to employees who enter into the EMI scheme. The options are granted at the determined fair value as at the grant date. The maximum term of the options granted is on the tenth anniversary of the grant date. The shares are only exercisable at the time of a sale or listing of the company.
Scheme 1:
Date of grant - No further grants were made during the period
No. of shares outstanding at the beginning of the period - 20,000
No. of shares granted during the period - 0
No. of shares forfeited during the period - 0
No. of shares exercised during the period - 0
No. of shares expired during the period - 0
No. of shares outstanding at the end of the period - 20,000
No. of shares exercisable at the end of the period - 20,000
During the period 3,333 share options vested and expensed in the statement of profit and loss using the fair market value.
Scheme 2:
Date of grant - No further grants were made during the period
No. of shares outstanding at the beginning of the period - 33,332
No. of shares granted during the period - 0
No. of shares forfeited during the period - 0
No. of shares exercised during the period - 0
No. of shares expired during the period - 0
No. of shares outstanding at the end of the period - 33,332
No. of shares exercisable at the end of the period - 33,332
During the period 8,333 of the share options vested and expensed in the statement of profit and loss using the fair market value.