Creative 2012 Annual Report Download - page 51

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49
CREATIVE TECHNOLOGY LTD AND ITS SUBSIDIARIES
24. 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
2012
Beginning of nancial year 75,000 (5,209) 266,753 (18,362)
Purchase of treasury shares – (154) – (322)
Ulisaon of treasury shares for shares issued
under employee opons plans and performance
share plan – 289 – 1,008
End of nancial year 75,000 (5,074) 266,753 (17,676)
2011
Beginning of nancial year 75,000 (5,425) 266,753 (19,122)
Ulisaon of treasury shares for shares issued
under employee opons plans and performance
share plan – 216 – 760
End of nancial year 75,000 (5,209) 266,753 (18,362)
All issued ordinary shares are fully paid. There is no par value for these ordinary shares.
(a) Treasury shares
During the nancial year ended 30 June 2012, the Company acquired 154,000 shares through purchases on the SGX-ST.
No shares were acquired in the prior nancial year ended 30 June 2011.
The Company did not re-issue any treasury shares pursuant to the Creative Technology (1999) Share Option Scheme
(“1999 Scheme”) in the nancial ended 30 June 2012. In the nancial year ended 30 June 2011, the Company re-issued
66,000 treasury shares pursuant to the 1999 Scheme at the exercise price of US$2.84 each, for a total cash consideration of
US$187,000.
For the nancial year ended 30 June 2012, the Company re-issued 289,000 (2011: 150,000) 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.