inter roller fa final

Directors’ ReportDirectors’ interest in shares or debentures (cont’d)Mr Yap Lem @ Yap Kee Lum and Mr Low Kok Hua, by virtue of the provisions of Section 7 of the Companies Act, Cap.50, are deemed to be interested in the whole of the issued share capital of all the subsidiary companies of Inter-RollerEngineering Limited.Directors’ benefitsSince the end of the previous financial year, no director has received or has become entitled to receive a benefit undera contract which is required to be disclosed under Section 201(8) of the Companies Act, Cap. 50.Share option schemeAt an Extraordinary General Meeting of the Company held on 25 May 2001, shareholders approved the Inter-RollerExecutives’ Share Option Scheme 2001 (the “Scheme”), which supersedes, in respect of further share options to beissued by the Company, the Inter-Roller Executives’ Share Option Scheme (the “Previous Scheme”) implemented afterthe approval of Shareholders was given at an EGM of the company held on 28 June 1994. However, the rules of thePrevious Scheme (as amended with modifications) shall continue to apply to the Outstanding Options granted underthe Previous Scheme. This included extending the validity of share options granted from 1999 onwards to ten (10)years. The Previous Scheme expired in June 2004.The Scheme extends to Executives and Directors (including Non-Executive Directors and Associated Company Executives)who have contributed significantly to the growth and performance of the Group. It is primarily a shareincentive scheme.The maximum size of the Scheme is based on 25% of the Company’s total issued share capital. Based on the existingissued share capital of S$15,309,591 divided into 76,547,954 shares, the maximum size of the Scheme will beapproximately 19,136,989 shares. The Scheme is intended to last for fifteen (15) years.The Scheme is administered by the Remuneration Committee which comprises the following non-executivedirectors:-Haider Mohamedally SithawallaLow Kok HuaLim Yong WahShare options granted and acceptedParticulars of share options granted to and accepted by directors and other full-time executives during the financialyear under the Scheme are:Name of Person to Date ofcompany in which whom options Number expiry Exerciseoptions were granted were granted Class of shares of shares of option priceInter-Roller Chief Executive Officer Ordinary shares 200,000 19.2.2014 $1.06Engineering Limited - Lim Yee Min of $0.20 eachInter-Roller Full-time Ordinary shares 1,730,000 19.2.2014 $1.06Engineering Limited Executives of $0.20 eachThe options may be exercised in full or in respect of 1,000 shares or a multiple thereof on payment of the exercise priceat any time after the first anniversary of the grant but before the tenth anniversary.The persons to whom the options have been granted have no right to participate by virtue of the options in any shareissue of any other company. There have been no options granted to controlling shareholders or their associates.No options to take up unissued shares of the subsidiary companies have been granted during the financial year.inter-roller engineering limited annual report2004 35