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Singapore Airlines Annual Report 2007-08
74
5 Options on Shares in the Company (continued)
(i) Employee Share Option Plan (continued)
(a) Singapore Airport Terminal Services Limited (“SATS”) (continued)
At the end of the financial year, options to take up 55,873,275 unissued shares in SATS were outstanding:
Number of options to subscribe for unissued ordinary shares
Balance at
1.4.2007/later Balance at Exercise
Date of grant date of grant Cancelled Exercised 31.3.2008 price * Exercisable period
28.3.2000 9,712,500 (205,800) (3,912,500) 5,594,200 $2.15 28.3.2001 – 27.3.2010
3.7.2000 3,215,550 (110,400) (1,010,500) 2,094,650 $1.75 3.7.2001 – 2.7.2010
2.7.2001 928,300 (84,400) (152,000) 691,900 $1.19 2.7.2002 – 1.7.2011
1.7.2002 2,243,750 (33,800) (749,850) 1,460,100 $1.55 1.7.2003 – 30.6.2012
1.7.2003 2,226,305 (8,500) (721,105) 1,496,700 $1.42 1.7.2004 – 30.6.2013
1.7.2004 9,053,300 (42,180) (3,781,920) 5,229,200 $2.04 1.7.2005 – 30.6.2014
1.7.2005 15,390,850 (149,900) (4,368,000) 10,872,950 $2.22 1.7.2006 – 30.6.2015
3.7.2006 14,738,100 (228,940) (14,185) 14,494,975 $2.05 3.7.2007 – 2.7.2016
2.7.2007 14,093,000 (154,400) - 13,938,600 $3.01 2.7.2008 – 1.7.2017
71,601,655 (1,018,320) (14,710,060) 55,873,275
* Following approval by SATS’ shareholders of the declaration of a special dividend of $0.05 on 26 July 2007, the Remuneration
and Human Resource Committee administering the SATS ESOP approved a reduction of $0.05 in the exercise prices of the share
options outstanding on 30 July 2007. The exercise prices reflected here are the exercise prices after such adjustment.
(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 financial 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 15,483,000 unissued shares in SIAEC at an exercise price of
$4.67 per share.
REPORT BY THE BOARD OF DIRECTORS