Singapore Airlines 2016 Annual Report Download - page 146
Download and view the complete annual report
Please find page 146 of the 2016 Singapore Airlines annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136 -
137 -
138 -
139 -
140 -
141 -
142 -
143 -
144 -
145 -
146 -
147 -
148 -
149 -
150 -
151 -
152 -
153 -
154 -
155 -
156 -
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
-
181
-
182
-
183
-
184
-
185
-
186
-
187
-
188
-
189
-
190
-
191
-
192
-
193
-
194
-
195
-
196
-
197
-
198
-
199
-
200
-
201
-
202
-
203
-
204
-
205
-
206
-
207
-
208
-
209
-
210
-
211
-
212
-
213
-
214
-
215
-
216
-
217
-
218
-
219
-
220
-
221
-
222
-
223
-
224
-
225
-
226
-
227
-
228
-
229
-
230
-
231
-
232
 |
 |
Notes to the Financial Statements
31 March 2016
5 Sta Costs (in $ million) (continued)
Share-based compensation arrangements (continued)
(b) Share-based incentive plans (equity-settled) (continued)
Time-based RSP
Movement of time-based share awards during the financial year
Number of Time-based Restricted Shares
Date of grant
Balance at
01.04.2015 Vested
Balance at
31.03.2016
Time-based RSP
07.05.2010 115,319 (109,893) 5,426
Deferred RSP/RSP 2014 Awards (“DSA”)
Movement of deferred RSP/RSP 2014 awards during the financial year
Number of Deferred RSP/RSP
Date of grant
Balance at
01.04.2015/
date of grant
Balance at
31.03.2016
DSA
04.09.2013 154,557 154,557
28.08.2014 73,470 73,470
10.09.2015 74,790 74,790
302,817 302,817
Since the commencement of the RSP 2014 and PSP 2014 plans in July 2014, 1,103,052 awards have been granted.
(c) Measurement of fair values
The methods and inputs used in the measurement of fair values at grant date of the equity-settled share-based incentive plans were
as follows:
FY2015/16 FY2014/15
RSP 2014 PSP 2014 RSP PSP
Valuation Method Monte Carlo Simulation
Expected dividend paid yield (%) Management’s forecast in line with dividend policy
Expected volatility (%) 14.11 – 18.34 14.11 12.10 – 18.61 18.61
Risk-free interest rate (%) 0.89 – 1.61 1.16 0.34 – 0.82 0.50
Expected term (years) 2.0 – 4.0 3.0 2.0 – 4.0 3.0
Share price at date of grant ($) 11.19 11.19 10.40 10.40
Estimated fair value ($) 9.42 – 10.34 6.58 8.95 – 9.68 9.38
Expected volatility has been based on an evaluation of the historical volatility of the Company’s share price, particularly over the historical
period commensurating with the expected term. The expected term of the instruments has been based on historical experience and
general option holder behaviour.
Singapore Airlines144
FINANCIAL