Annual Report - QuamIR

Notes to the Consolidated Financial Statements (Continued)
34 Share capital (Continued)
Notes: (Continued)
34
(e)
Share options are granted to employees, senior executives or officers,
managers, directors or consultants of any members of the Group or any
Invested Entity.
(e)
The exercise price must be at least the higher of
(i)
the closing price of the shares as stated in the Stock Exchange’s
daily quotations sheet on the date of grant;
(i)
(ii)
the average closing price of the shares as stated in the Stock
Exchange’s daily quotation sheets for the five business days
immediately preceding the date of grant; and
(ii)
(iii)
the nominal value of a share.
(iii)
An option must be exercised within ten years from the date on which
it is granted or such shorter period as the Board may specify at the
time of grant. An offer of the grant of an option shall remain open for
acceptance for a period of ten business days from the date of offer and a
consideration of HK$1 must be paid upon acceptance.
1
Movements in the number of share options outstanding and their related
weighted average exercise prices are as follows:
Average
exercise price
in HK dollar
per share
Number of
options
At 1 January 2010 1.465 235,840,000
Granted before the issue of bonus shares 0.630 30,000,000
Lapsed before the issue of bonus shares 1.431 (53,350,000)
Issue of bonus shares – 21,249,000
Granted after the issue of bonus shares 0.488 30,000,000
Lapsed after the issue of bonus shares 1.227 (6,655,000)
At 31 December 2010 1.145 257,084,000
At 1 January 2011 1.145 257,084,000
Granted 0.360 10,000,000
Lapsed 0.997 (82,005,000)
At 31 December 2011 1.168 185,079,000
164 HKC (Holdings) Limited • Annual Report 2011