Creative 2013 Annual Report Download - page 13

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13
CREATIVE TECHNOLOGY LTD AND ITS SUBSIDIARIES
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
Singapore Exchange Securities Trading Limited (“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
1999 Scheme do not entitle the holders of the options, by virtue of such holdings, to any right to participate in any share
issue of any other company.
The 1999 Scheme expired on 29 December 2008. The existing options granted will continue to vest according to the terms
and conditions of the 1999 Scheme and the respective grants.
Details of the Directors’ share options are set out as follows:
    
Aggregate Aggregate
Granted in granted since exercised since Aggregate
    
    
Name of director 30.6.2013 30.6.2013 30.6.2013 lapsed 30.6.2013
Lee Kheng Nam – 160,000 80,000 80,000 –
Ng Kai Wa – 80,000 – 80,000 –
There were no options exercised during the nancial years ended 30 June 2013 and 2012.
(b) Share options outstanding
The number of unissued ordinary shares of the Company under option in relation to the 1999 Scheme outstanding at the
end of the nancial year was as follows:
Number
of unissued
ordinary shares Weighted
 
Grant date 30.6.2012 exercise price Expiry date
January 2004 12,000 US$10.25 5 January 2014
October 2005 1,288,000 US$7.39 18 October 2015
December 2007 1,887,500 US$4.70 31 December 2017
3,187,500