Haier 2009 Annual Report Download - page 142

31 December 2009

NOTES TO FINANCIAL STATEMENTS 財務報表附註
HAIER ELECTRONICS GROUP CO., LTD ANNUAL REPORT 2009
140
29. Issued Equity (Cont’d)
(ii) On 18 January 2008, the outstanding aggregate principle
amount of the convertible notes were fully converted and
resulted in the issue of 94,444,444 additional ordinary
shares.
(iii) On 23 March 2009, the Company issued 75,000,000 shares of
the Company at HK$0.65 per share (the “Placing Shares”) to
the subscribers in a share placing. In addition, the Company
issued 300,000,000 non-listed warrants, on the basis of four
warrants for each Placing Share issued, at no initial issue price.
This entitles the holder of each warrant to subscribe for one
new share of the Company at an exercise price of HK$0.66 at
any time for a period of four years from the date of issue of
such warrant. There was no exercise of the warrants during
the year.
At the end of the reporting period, the Company had
300,000,000 warrants outstanding. The exercise in full of
the outstanding warrants would, under the present capital
structure of the Company, result in the issue of 300,000,000
additional shares at HK$0.66 each.
30. Share Option Scheme
The Company operates a share option scheme (the “Share Option
Scheme”) for the purpose of providing incentives and rewards
to the eligible participants who contribute to the success of the
operations of the Group. Eligible participants of the Share Option
Scheme include any employee, executive or officer of the Group
(including executive and non-executive directors of the Company)
and any supplier, consultant, agent, adviser, shareholder, customer,
partner, business associate who, in the option of the board of
directors of the Company (the “Board”), has contributed to the
Group. The Share Option Scheme became effective on 28 February
2002 and, unless otherwise cancelled or amended, will remain in
force for 10 years from that date.
The maximum number of shares in respect of which options may be
granted under the Share Option Scheme is such number of shares,
when aggregated with shares subject to any other share option
scheme(s) of the Company, must not exceed 10% of the issued share
capital of the Company as at the date of adoption of the Share Option
Scheme. The maximum number of shares issuable upon exercise
of the options granted under the Share Option Scheme and any
other share option scheme(s) of the Company (including exercised,
cancelled and outstanding options) to each eligible participant in any
12-month period is limited to 1% of the shares of the Company
in issue as at the date of grant. Any further grant of share options
in excess of this 1% limit shall be subject to the issue of a circular
by the Company (and if required, the holding company) and the
shareholders’ approval of the Company (and if required, the approval
of the shareholders of the holding company) at a general meeting.
29.  
(ii) 

94,444,444
(iii) 
0.65
 75,000,000        


300,000,000


0.66

300,000,000


0.66300,000,000
30. 









10




10%




1%1%


