CAHYA MATA SARAWAK ANNUAL REPORT 2016

173 Cahya Mata Sarawak Berhad A N N U A L R E P O R T 2 0 1 6 Section 07 Financial StatementS NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2016 36. EMPLOYEE BENEFITS (CONT'D.) (d) the option price may be at a discount of not more than ten percent (10%) from the five (5) days weighted average market price of the underlying shares preceding the date of offer or at par value of the ordinary shares of the Company, whichever is higher; (e) the ESOS shall be in force for a period of five (5) years and extendable to ten (10) years from the date of the first offer; (f) the ESOS Committee may, at its discretion, at any time before and after an option is granted, limit the maximum number or percentage of exercisable options within the option period; and (g) the exercise of the options is subjected to vesting conditions being met by respective grantees. These vesting conditions may be affected by, inter alia, performance targets being achieved before the options can be exercised. The vesting conditions, if any, shall be determined by the ESOS Committee whose decision shall be final and binding. Details of share options under ESOS are as follows: (a) Movement of share options during the financial year The following table illustrates the number and weighted average exercise price (“WAEP”) of, andmovements in, share options during the financial year: 2016 2015 No. of options WAEP No. of options WAEP ‘000 RM ‘000 RM Outstanding at 1 January - - 35,777 1.25 Exercised - - (34,872) 1.25 Cancelled - - (452) 0.92 Lapsed - - (453) 1.36 Outstanding at 31 December - - - - Exercisable at 31 December - - - - Details of share options outstanding at the end of the year: Exercise price RM/Share of RM1 each Adjusted exercise price RM/Share of RM0.50 each* Exercise period 31.12.2015 First offer 2.20 0.74 15.4.2011 to 22.6.2015 Second offer 2.23 0.75 1.4.2013 to 22.6.2015 Third offer 6.85 2.29 1.4.2015 to 22.6.2015 * Adjusted for share split and bonus issue in June 2014.