Singapore Airlines 2012 Annual Report Download - page 84

082 SINGAPORE AIRLINES
Report by the Board Of Directors
5 Equity Compensation Plans of the Company (continued)
(i) Employee Share Option Plan (“ESOP”)
Details of the ESOP plan are disclosed in Note 5 to the financial statements.
At the end of the financial year, options to take up 37,139,973 unissued shares in the Company were outstanding:
Number of options to subscribe for unissued ordinary shares
Balance at Balance at Exercise
Date฀of฀grant฀ 1.4.2011฀ Cancelled฀ ฀Exercised฀ 31.3.2012฀ price*฀ Exercisable฀Period
2.7.2001 1,468,115 (333,499) (1,134,616) - $9.75 2.7.2002 - 1.7.2011
1.7.2002 2,406,793 (18,145) (632,216) 1,756,432 $9.81 1.7.2003 - 30.6.2012
1.7.2003 1,697,191 (18,330) (447,413) 1,231,448 $7.33 1.7.2004 - 30.6.2013
1.7.2004 2,926,794 (37,381) (503,140) 2,386,273 $7.69 1.7.2005 - 30.6.2014
1.7.2005 5,463,928 (70,087) (845,625) 4,548,216 $8.27 1.7.2006 - 30.6.2015
3.7.2006 7,413,806 (80,953) (959,813) 6,373,040 $9.59 3.7.2007 - 2.7.2016
2.7.2007 11,129,875 (167,960) - 10,961,915 $15.71 2.7.2008 - 1.7.2017
1.7.2008 10,707,031 (133,090) (691,292) 9,882,649 $12.32 1.7.2009 - 30.6.2018
43,213,533 (859,445) (5,214,115) 37,139,973
* Following approval by the Company’s shareholders of the declaration of a special dividend of $0.50 per share on 31 July 2007,
the Board Compensation & Industrial Relations Committee approved a reduction of $0.50 in the exercise prices of the share
options outstanding on 2 August 2007. The said Committee approved another $1.71 reduction in the exercise prices of
the share options outstanding on 28 August 2009 following approval by the Company’s shareholders of the dividend
in specie of SATS shares on 31 July 2009. The Committee approved another reduction of $0.80 in the exercise prices of
the share options outstanding on 18 August 2011 after the approval by the Company’s shareholders of the declaration
of a special dividend of $0.80 per share on 29 July 2011. The exercise prices reflected here are the exercise prices after
such adjustments.
The details of options granted to and exercised by directors of the Company:
Aggregate options Aggregate options Aggregate
granted since exercised since options
Options commencement commencement of outstanding
granted during of scheme to end scheme to end of at end of
financial year of financial year financial year Options financial year
Name of participant under review under review under review lapsed under review
Goh Choon Phong - 444,075 124,800 - 319,275
No options have been granted to controlling shareholders or their associates, or parent group directors or employees.
The options granted by the Company do not entitle the holders of the options, by virtue of such holding, to any rights
to participate in any share issue of any other company.
No options have been granted during the financial year as the last grant of the share options under the ESOP was
made in July 2008.