Creative 2004 Annual Report Download - page 34

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32
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Summary of outstanding options under Creative’s employee stock option plans
The following table summarizes option information for Creative’s employee stock option plans as at June 30, 2004.
Options Outstanding Options Exercisable
Weighted
Average
Remaining Weighted Weighted
Range of Number Contractual Average Number Average
Exercise Prices Outstanding Life Exercise Price Exercisable Exercise Price
(’000) (years) ($) (’000) ($)
$1.00 to $2.99 375 6.86 2.86 254 2.86
$3.00 to $4.99 3,401 7.27 4.45 1,961 4.44
$5.00 to $7.99 905 7.06 6.36 736 6.37
$8.00 to $10.99 4,230 4.93 9.14 4,043 9.11
$11.00 to $14.99 – – – – –
$15.00 to $22.00 10 5.66 18.40 10 18.40
8,921 6.12 6.82 7,004 7.30
Subsidiary Stock Option Plan
In May 2000, the subsidiary adopted a separate stock option plan and employees were then granted options under this plan. The total
number of shares that may be granted as options under the subsidiary 2000 Stock Option Plan (“2000 Plan”) is 8 million shares provided
that such amounts shall be automatically increased on the first day (July 1) of each of the five fiscal years ending June 30, 2001, 2002,
2003, 2004 and 2005 by the lesser of (i) three hundred thousand shares or (ii) one percent of the issued share capital of the Company
as at the last day of the immediately preceding fiscal year. The exercise price of options granted under the 2000 Plan may be less than
the fair market value of the shares as of the date of grant and the options expire after the tenth anniversary of the date of grant. The
2000 Plan was terminated on June 18, 2004.
The subsidiary did not grant options in fiscal 2002, fiscal 2003 and fiscal 2004.
A summary of options granted to employees, consultants and directors under the subsidiary’s stock option plan is presented below:
Options Outstanding
Number of Shares Weighted Average
(’000) Exercise Price ($)
Balance as of June 30, 2002 5 2.50
Options granted ––
Options canceled (5) 2.50
Balance as of June 30, 2003 – –
Options granted ––
Balance as of June 30, 2004 – –
The total number of options exercisable at June 30, 2004, 2003 and 2002 under the New Plan and 1999 Scheme were 7,004,000,
6,866,000 and 4,031,000, respectively.
NOTE 9 – EMPLOYEE SHARE PURCHASE AND STOCK OPTION PLANS (Cont’d)