Creative 2014 Annual Report Download - page 15

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15
CREATIVE TECHNOLOGY LTD AND ITS SUBSIDIARIES
of the Company (excluding treasury shares) on the day preceding that date. Outstanding options under the 1999 Scheme
are excluded from the computation of the 15% limit for the Plan. The Plan shall continue in force at the discretion of the
Committee, subject to a maximum period of 10 years commencing on 29 October 2009.
On 31 March 2010, 2,793,600 performance shares were granted to non-executive directors and employees under the Plan. Of
the total performance shares granted, 716,950 shares were vested immediately on the date of grant. The remaining performance
shares will be released over 4 annual performance periods subject to the completion of service and the achievement of
prescribed performance targets in each of the performance periods.
There were no awards granted under the Plan during the nancial years ended 30 June 2014 and 2013.
Details of the Directors’ performance share awards are set out as follows:
Aggregate Aggregate Aggregate
Granted in granted since released since lapsed since Aggregate
    
year ended of Plan to of Plan to of Plan to as at
Name of director 30.6.2014 30.6.2014 30.6.2014 30.6.2014 30.6.2014
Lee Kheng Nam – 60,000 45,000 15,000 –
Ng Kai Wa – 60,000 45,000 15,000 –
Lee Gwong-Yih – 60,000 45,000 15,000 –
No participant was granted 5% or more of the total awards available under the Plan.
No performance shares were awarded to controlling shareholders of the Company or their associates.
7. AUDIT COMMITTEE
At the end of the nancial year, the Audit Committee comprises the following members, all of whom are independent non-
executive directors:
Lee Kheng Nam (Chairman)
Ng Kai Wa
Lee Gwong-Yih
The Audit Committee carried out its functions in accordance with Section 201B of the Singapore Companies Act, Chapter
50. In performing its functions, the Committee reviewed the overall scope of work of both internal and external audits
and the assistance given by the Company’s ofcers to the auditors. It met with the auditors to discuss the results of their
examination and evaluation of the system of internal accounting control of the Company and its subsidiaries. The Committee
also reviewed the requirements for approval and disclosure of interested person transactions.
The Committee reviewed the balance sheet of the Company and the consolidated nancial statements of the Group as well as
the independent auditor’s report thereon and recommended to the Board of Directors the nomination of PricewaterhouseCoopers
LLP as independent auditor of the Company at the forthcoming Annual General Meeting.
8. INDEPENDENT AUDITOR
The independent auditor, PricewaterhouseCoopers LLP, has expressed its willingness to accept re-appointment.
On behalf of the directors
Sim Wong Hoo Lee Kheng Nam
Director Director
24 September 2014