Creative 2014 Annual Report Download - page 49

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49
CREATIVE TECHNOLOGY LTD AND ITS SUBSIDIARIES
23. SHARE CAPITAL AND TREASURY SHARES
Number of ordinary shares Amount
Issued share Treasury Share Treasury
capital shares capital shares
’000 ’000 US$’000 US$’000
Group and Company
2014
Beginning of nancial year 75,000 (4,767) 266,753 (16,606)
Ulisaon of treasury shares for shares issued
under employee opons plans and performance
share plan – 99 – 344
End of nancial year 75,000 (4,668) 266,753 (16,262)
2013
Beginning of nancial year 75,000 (5,074) 266,753 (17,676)
Ulisaon of treasury shares for shares issued
under employee opons plans and performance
share plan – 307 – 1,070
End of nancial year 75,000 (4,767) 266,753 (16,606)
All issued ordinary shares are fully paid. There is no par value for these ordinary shares.
(a) Treasury shares
No shares were acquired in the nancial year ended 30 June 2014 and 2013.
The Company did not issue any treasury shares pursuant to the Creative Technology (1999) Share Option Scheme (“1999
Scheme”) in the nancial years ended 30 June 2014 and 30 June 2013.
For the nancial year ended 30 June 2014, the Company issued 99,000 (2013: 307,000) treasury shares pursuant to the
Creative Performance Share Plan.
(b) Share options
The Creative Technology (1999) Share Option Scheme (“1999 Scheme”) was approved by shareholders at an Extraordinary
General Meeting on 30 December 1998 which allows options to be granted to full-time employees as well as consultants and
non-executive directors. The total number of shares that may be granted under the 1999 Scheme was 7.5 million, provided
that such amount shall be automatically increased on the rst day (1 July) of each of the ve nancial years ended 30
June 2001, 2002, 2003, 2004 and 2005 by four percent of the issued share capital of the Company as at the last day of the
immediate preceding nancial year. The Option Committee has the discretion to decide the vesting schedule in the letter of
offer. If it is not specically stated in the letter of offer, 1/4 of the total amount of the grant vests on the rst anniversary
of the grant date and 1/48 of the total amount of the grant vests on the last day of each calendar month thereafter.
The exercise price of the options is determined at the average of the closing prices of the Company’s shares as quoted on
the SGX-ST or the National Association of Securities Dealers Automated Quotations (“NASDAQ”) for ve market days
preceding the date of the grant.
Options expire after the tenth anniversary of the date of grant, except in the case of options granted to participants other than
employees, options expire not later than the fth anniversary of the date of grant. Effective 12 November 2007, amendments
were made to the 1999 Scheme to allow the use of treasury shares to satisfy share based exercises. The options under the