Creative 2015 Annual Report Download - page 14

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14
CREATIVE TECHNOLOGY LTD AND ITS SUBSIDIARIES
(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
under opon at average
Grant date 30.6.2015 exercise price Expiry date
October 2005 663,000 US$7.39 18 October 2015
December 2007 1,461,500 US$4.70 31 December 2017
2,124,500
6. PERFORMANCE SHARES
The Creative Performance Share Plan (the “Plan”) was approved by shareholders at an Extraordinary General Meeting on
29 October 2009 under which awards (the “Award”) of fully-paid shares, their equivalent cash value or combinations thereof,
will be issued free of charge, to eligible employees and non-executive directors of the Company and its subsidiaries, provided
that certain prescribed performance targets are met and/or upon expiry of the prescribed vesting periods.
The aggregate number of shares for which an Award may be granted on any date under the Plan, when added to the number
of shares issued and/or issuable in respect of all Awards granted under the Plan and all shares, options or awards granted
under any other share option or share scheme of the Company then in force, shall not exceed 15% of the total issued shares
of the Company (excluding treasury shares) on the day preceding that date. Outstanding options under the 1999 Scheme
are excluded from the computation of the 15% limit for the Plan. The Plan shall continue in force at the discretion of the
Committee, subject to a maximum period of 10 years commencing on 29 October 2009.
On 31 March 2010, 2,793,600 performance shares were granted to non-executive directors and employees under the Plan. Of
the total performance shares granted, 716,950 shares were vested immediately on the date of grant. The remaining performance
shares will be released over 4 annual performance periods subject to the completion of service and the achievement of
prescribed performance targets in each of the performance periods.
There were no awards granted under the Plan during the nancial years ended 30 June 2015 and 2014. However, as at 30
June 2015, the Committee has extended the performance period till 31 December 2015 for 285,000 performance shares
granted on 31 March 2010 that were subject to the achievement of prescribed performance targets.
Details of the Directors’ performance share awards are set out as follows:
Aggregate Aggregate Aggregate
Granted in granted since released since lapsed since Aggregate
nancial commencement commencement commencement outstanding
year ended of Plan to of Plan to of Plan to as at
Name of director 30.6.2015 30.6.2015 30.6.2015 30.6.2015 30.6.2015
Lee Kheng Nam – 60,000 45,000 15,000 –
Ng Kai Wa – 60,000 45,000 15,000 –
Lee Gwong-Yih – 60,000 45,000 15,000 –
No participant was granted 5% or more of the total awards available under the Plan.
No performance shares were awarded to controlling shareholders of the Company or their associates.
DIRECTORS’ REPORT
For the nancial year ended 30 June 2015
5. SHARE OPTIONS (cont’d)