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Axiata Group Berhad | Annual Report 2016
FINANCIAL STATEMENTS
170
NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2016
13. SHARE CAPITAL (CONTINUED)
(a) Dividend Reinvestment Scheme
The shareholder of the Company via AGM approved the renewal of the authority for the Directors of the Company to allot and issue new
ordinary shares of RM1 each of the Company in relation to the DRS that provided the shareholders of the Company the option to elect to
reinvest their full or partial of the cash dividend entitlement in new ordinary shares of the Company. In the event that only part of the electable
portion is reinvested, the shareholders shall receive the remaining portion of the dividend in cash.
The Company has issued the new ordinary shares pursuant to DRS at the conversion price disclosed in Note 44 to the financial statements.
The above mentioned ordinary shares rank pari-passu in all respects with the existing ordinary shares of the Company.
14. EMPLOYEE SHARE OPTION AND SHARE SCHEME
(a) Performance-Based Employee Share Option Scheme and Restricted Share Plan [“Axiata Share Scheme”]
The Performance-Based Employee Share Option Scheme (“ESOS”) of the Company was approved by its shareholders at an Extraordinary
General Meeting (“EGM”) held on 24 March 2009 and implemented on 16 April 2009.
On 1 June 2011, the Company’s shareholders had, at the Nineteenth (19
th
) AGM of the Company, approved the amendments to the Bye-Laws
of the ESOS to include a RSP. Accordingly, the existing Performance-Based ESOS was renamed as Axiata Share Scheme.
Effective from 15 July 2011, the Company implemented the Axiata Share Scheme and started to offer eligible employees the entitlement to
receive Restricted Share Awards (“RSA”) under the Restricted Share Plan in the Company on 18 July 2011 instead of ESOS.
The total number of the Performance-Based ESOS granted, percentage exercisable and the vesting period is as follows:
ESOS
Options over the Company’s shares
Grant date
Vesting date
% of options
exercisable
1
Number of
options granted
Exercise
price RM
Grant 1(a), 2009
Tranche 1
16 April 2009 15 April 2011
50
34,555,750
1.81
Tranche 2
16 April 2009 15 April 2012
50
34,555,750
1.81
Grant 1(b), 2010
2
Tranche 1
18 January 2010 17 January 2012
50
2,088,050
3.15
Tranche 2
18 January 2010 17 January 2013
50
2,088,050
3.15
Grant 2, 2010
Tranche 1
24 February 2010 23 February 2012
50
24,688,750
3.45
Tranche 2
24 February 2010 23 February 2013
50
24,688,750
3.45
Grant 3(a), 2011
Tranche 1
23 February 2011 22 February 2013
50
32,121,450
5.07
Tranche 2
23 February 2011 22 February 2014
50
32,121,450
5.07
1
The Performance-Based ESOS/RSA granted shall become exercisable/vested only upon the fulfilment of certain performance criteria
for the Company and individuals.
2
The grant was made to newly hired employees who did not receive the main cycle grants and have been confirmed as at reporting date.