Singapore Airlines 2007 Annual Report Download - page 69

Singapore Airlines 67 Annual Report 2006-07
REPORT BY THE BOARD OF DIRECTORS
5 Options on Shares in the Company (continued)
(i) Employee Share Option Plan (continued)
The details of options granted to and exercised by directors of the Company:
Aggregate Aggregate
options options
granted since exercised since Aggregate
Exercise price commencement commencement options
Options for options of scheme of scheme outstanding
granted during granted during to end of to end of at end of
financial year financial year financial year financial year Options financial year
Name of participant under review under review under review under review lapsed under review
––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Chew Choon Seng 120,000 $12.60 1,194,000 – – 1,194,000
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 (“SATS ESOP”), 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 fi nancial year, in consideration of the payment of $1.00 for each offer accepted, offers of options were
granted pursuant to the SATS ESOP in respect of 14,878,000 unissued shares in SATS at an exercise price of $2.10
per share.
At the end of the fi nancial year, options to take up 57,508,655 unissued shares in SATS were outstanding:
Number of options to subscribe
for unissued ordinary shares
––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Balance at
1.4.2006/later Balance at Exercise
Date of grant date of grant Cancelled Exercised 31.3.2007 price Exercisable period
––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
28.3.2000 16,156,400 (444,700) (5,999,200) 9,712,500 $2.20 28.3.2001 – 27.3.2010
3.7.2000 4,512,350 (215,200) (1,081,600) 3,215,550 $1.80 3.7.2001 – 2.7.2010
2.7.2001 1,352,900 (62,600) (362,000) 928,300 $1.24 2.7.2002 – 1.7.2011
1.7.2002 3,077,850 (12,650) (821,450) 2,243,750 $1.60 1.7.2003 – 30.6.2012
1.7.2003 3,057,650 (23,600) (807,745) 2,226,305 $1.47 1.7.2004 – 30.6.2013
1.7.2004 15,994,950 (136,450) (6,805,200) 9,053,300 $2.09 1.7.2005 – 30.6.2014
1.7.2005 15,711,200 (300,000) (20,350) 15,390,850 $2.27 1.7.2006 – 30.6.2015
3.7.2006 14,878,000 (139,900) – 14,738,100 $2.10 3.7.2007 – 2.7.2016
––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
74,741,300 (1,335,100) (15,897,545) 57,508,655
––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
(b) SIA Engineering Company Limited (“SIAEC”)
The SIA Engineering Company Limited Employee Share Option Plan (“SIAEC ESOP”), 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 9 February 2000.
The basis upon which an option may be exercised is identical to that of the Plan implemented by the Company.
During the fi nancial year, in consideration of the payment of $1.00 for each offer accepted, offers of options were
granted pursuant to the SIAEC ESOP in respect of 15,244,800 unissued shares in SIAEC at an exercise price of
$3.64 per share, which was later reduced to $3.44 per share following the approval of a special dividend of $0.20
on 21 July 2006.