Annual Report - QuamIR

Report of the Directors (Continued)
Share Option Schemes (Continued)
Share Options of the Company (Continued)
(d) Maximum entitlement of each Eligible Person
The total number of shares of the Company issued and to be issued
upon exercise of options (whether exercised or outstanding) granted in
any 12-month period to:
(d)
(i)
each Eligible Person must not exceed 1% of the shares of the
Company in issue;
(i)
1%
(ii)
a substantial shareholder or an Independent Non-executive
Director of the Company must not exceed 0.1% of the shares of
the Company in issue and not exceed HK$5 million in aggregate
value.
(ii)
0.1%
5,000,000
(e)
Period within which the shares must be taken up under an
option
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.
(e)
(f)
Minimum period, if any, for which an option must be held
At the time of the grant of an option, the Board must specify the
minimum period(s), if any, for which an option must be held before it
can be exercised.
(f)
(g)
Period open for acceptance of an option and amount
payable upon acceptance
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$1.0 must be paid upon acceptance.
(g)
1.0
(h)
Basis of determining the subscription price of an option
The exercise price must be at least the higher of (i) the closing
price of the shares as stated in daily quotations sheet on The Stock
Exchange of Hong Kong Limited (the “Stock Exchange”) on the date
of grant; (ii) the average closing prices 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 (iii) the nominal value of a
share.
(h)
(i)
(ii)
(iii)
(i)
Remaining life
The HKC Option Scheme has a life of ten years and will expire on 16
June 2016 unless otherwise terminated in accordance with the terms
of the HKC Option Scheme.
(i)
36 HKC (Holdings) Limited • Annual Report 2011