Singapore Airlines 2005 Annual Report Download - page 63

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SIA Annual Report 04/05 61
CC
฀MOD: CN1323
M Y
C K
While every effort has been taken to carry out instruction to customers satisfaction
NO RESPONSIBILITY liablilty will be accepted for errors
CUSTOMERS ARE THEREFOREURGED TO CHECK THOROUGHLY BEFORE
AUTHORISING PRINTRUNS
DALIM
1 2 3 4 5 6 7 8 9 10 OK TS
CC196777 DLMAC13 10.06.2005 150#
1
3col
Report by the Board of Directors
5 Options on Shares in the Company (continued)
(b) SIA Engineering Company Limited (“SIAEC”) (continued)
At the end of the financial year, options to take up 63,709,775 unissued shares of $0.10 each in SIAEC were
outstanding:
Number of options to subscribe for
unissued ordinary shares of $0.10 each
––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Balance at
1.4.2004/later Balance at Exercise
Date of grant date of grant Cancelled Exercised 31.3.2005 price* Exercisable period
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
28.3.2000 14,443,950 (270,400) (2,588,050) 11,585,500 $1.85 28.3.2001 – 27.3.2010
3.7.2000 13,459,050 (209,600) (3,831,800) 9,417,650 $1.75 3.7.2001 – 2.7.2010
2.7.2001 11,137,100 (100,300) (6,245,800) 4,791,000 $1.21 2.7.2002 – 1.7.2011
1.7.2002 16,169,700 (646,500) (93,400) 15,429,800 $2.18 1.7.2003 – 30.6.2012
1.7.2003 7,427,300 (107,900) (29,075) 7,290,325 $1.55 1.7.2004 – 30.6.2013
1.7.2004 15,310,700 (115,200) – 15,195,500 $1.89 1.7.2005 – 30.6.2014
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
77,947,800 (1,449,900) (12,788,125) 63,709,775
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
* At the extraordinary general meeting of SIAEC held on 26 July 2004, SIAEC’s shareholders approved an amendment
to the Plan allowing for adjustment to the exercise prices of the existing options by SIAEC Committee administering
the Plan, in the event of the declaration of a special dividend. At the same meeting, SIAEC's shareholders approved
the declaration of a special dividend. The said Committee then approved a $0.20 reduction of the exercise prices of
the outstanding share options. The exercise prices reflected here are the exercise prices after such adjustment.
6 Audit and Risk Committee
The Audit and Risk Committee performed the functions specified in the Singapore Companies Act. The functions
performed are detailed in the Report on Corporate Governance.
7 Auditors
The auditors, Ernst & Young, Certified Public Accountants, have expressed their willingness to accept re-appointment.
On behalf of the Board,
KOH BOON HWEE
Chairman
CHEW CHOON SENG
Chief Executive Officer
Dated this 11th day of May 2005