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60 SIA Annual Report 03/04
Report by the Board of Directors
5 Options on Shares in the Company (continued)
The details of options granted to and exercised by directors of the Company:
Aggregate Aggregate
options options
granted since exercised since Aggregate
Exercise price commencement commencement options
Options for options of scheme of scheme outstanding
granted during granted during to end of to end of at end of
financial year financial year financial year financial year Options financial year
Name of participant under review under review under review under review lapsed under review
––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Chew Choon Seng 152,000 $10.34 606,000 – – 606,000
The particulars of options on shares in subsidiary companies are as follows:
(a) Singapore Airport Terminal Services Limited (“SATS”)
The Singapore Airport Terminal Services Limited Employee Share Option Plan (“SATS ESOP”), which comprises the
Senior Executive Share Option Scheme and the Employee Share Option Scheme for senior executives and all other
employees respectively, was approved on 20 March 2000.
The basis upon which an option may be exercised is identical to that of the Plan implemented by the Company.
During the financial year, in consideration of the payment of $1.00 for each offer accepted, offers of options were
granted pursuant to the SATS ESOP in respect of 14,168,900 unissued shares of $0.10 each in SATS at an exercise
price of $1.77 per share.
At the end of the financial year, options to take up 68,911,300 unissued shares of $0.10 each in SATS were
outstanding:
Number of options to subscribe for
unissued ordinary shares of $0.10 each
––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Balance at
1.4.2003/later Balance at Exercise
Date of grant date of grant Cancelled Exercised 31.3.2004 price Exercisable period
––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
28.3.2000 17,837,200 (350,100) – 17,487,100 $2.50 28.3.2001 – 27.3.2010
3.7.2000 13,780,000 (163,025) (116,925) 13,500,050 $2.10 3.7.2001 – 2.7.2010
2.7.2001 15,080,800 (188,800) (5,852,150) 9,039,850 $1.54 2.7.2002 – 1.7.2011
1.7.2002 15,101,200 (246,100) (36,400) 14,818,700 $1.90 1.7.2003 – 30.6.2012
1.7.2003 14,168,900 (103,300) – 14,065,600 $1.77 1.7.2004 – 30.6.2013
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
75,968,100 (1,051,325) (6,005,475) 68,911,300
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
(b) SIA Engineering Company Limited (“SIAEC”)
The SIA Engineering Company Limited Employee Share Option Plan (“SIAEC ESOP”), which comprises the Senior
Executive Share Option Scheme and the Employee Share Option Scheme for senior executives and all other
employees respectively, was approved on 9 February 2000.
The basis upon which an option may be exercised is identical to that of the Plan implemented by the Company.
During the financial year, in consideration of the payment of $1.00 for each offer accepted, offers of options were
granted pursuant to the SIAEC ESOP in respect of 7,526,300 unissued shares of $0.10 each in SIAEC at an exercise
price of $1.75 per share.