Singapore Airlines 2002 Annual Report Download - page 55

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11 Options on Shares in the Company (continued)
The Committee administering the Plan comprises the following directors:-
Koh Boon Hwee
Cheong Choong Kong
Lim Chee Onn
Fock Siew Wah
Cheong Choong Kong did not participate in any deliberation or decision in respect of options granted to him.
No options have been granted to controlling shareholders or their associates, or parent group employees.
No employee has received 5% or more of the total number of options available under the Scheme.
During the financial year, in consideration of the payment of $1.00 for each offer accepted, offers of options were granted pursuant to
the Scheme in respect of 13,348,840 unissued shares of $0.50 each in the Company at an exercise price of $11.96 per share.
At the end of the financial year, options to take up 38,569,920 unissued shares of $0.50 each in the Company were outstanding:-
Number of unissued ordinary shares of $0.50 each
Balance at
1.4.2001/ Balance at
Date of grant Date of grant Cancelled Exercised 31.3.2002 Exercise price Expiry date
28.3.2000 13,562,150 (251,520) – 13,310,630 $15.34 27.3.2010
3.7.2000 12,106,150 (133,000) – 11,973,150 $16.65 2.7.2010
2.7.2001 13,348,840 (62,700) – 13,286,140 $11.96 1.7.2011
39,017,140 (447,220) – 38,569,920
The details of options granted to and exercised by directors of the Company:-
Aggregate options Aggregate options
granted since exercised since
commencement commencement Aggregate options
Options granted of scheme to of scheme to outstanding at end
during financial end of financial end of financial of financial year
Name of participant year under review year under review year under review Options lapsed year under review
Cheong Choong Kong 228,000 708,000 – – 708,000
12 Options on Shares in Subsidiary Companies
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, 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 share option plan in respect of 15,350,200 unissued shares of $0.10 each in SATS at an exercise price of $1.54
per share.
SIA Annual Report 01/02 55
Report by the Board of Directors