188 / 284
Axiata Group Berhad | Annual Report 2016
FINANCIAL STATEMENTS
186
NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2016
14. EMPLOYEE SHARE OPTION AND SHARE SCHEME (CONTINUED)
(a) Performance-Based Employee Share Option Scheme and Restricted Share Plan [“Axiata Share Scheme”] (continued)
The fair value of the RSA granted in which MFRS 2 applies, were determined using the Monte Carlo valuation model. The significant inputs in
the model are as follows:
Entitlement over the Company's shares
Grant 3(b)
Grant 3(c)
Grant 4(a)
Grant 4(b)
Grant 4(c)
Reference price
RM5.03
RM5.10
RM5.20
RM5.86
RM5.92
Valuation at grant date*
18 Jul 2011
30 Nov 2011
16 Apr 2012
17 Aug 2012
10 Dec 2012
Vesting date:
- Tranche 1
18 Jul 2013
30 Nov 2013
30 Mar 2014
31 Jul 2014
30 Nov 2014
- Tranche 2
18 Jul 2014
30 Nov 2014
30 Mar 2015
31 Jul 2015
30 Nov 2015
Closing share price at grant date*
RM5.03
RM5.10
RM5.39
RM6.00
RM6.19
Expected dividend yield
2.54%
3.12%
4.23%
4.06%
4.15%
Risk free interest rates
(Yield of Malaysian Government Securities)
3.19% - 3.32% 2.92% - 3.23% 3.09% - 3.18% 2.97% - 3.04% 3.00% - 3.08%
Expected volatility
#
19.9%
18.7%
27.5%
19.2%
18.6%
#
The expected volatility rate of the Company's RSA was derived using three (3) years historical volatility due to availability of data with
more data points to increase the credibility of assumptions.
*
Grant date refers to the date where majority of employees accepted the offer.