Powering growth - Aztech Group Ltd - Investor Relations

38a z t e c h a n n u a l r e p o r t 2 0 0 9F i n a n c i a l S t a t e m e n t sREPORT OF THE DIRECTORS6 SHARE OPTIONS (cont’d)(c)Participants who are Directors/ controlling shareholder/ associate of controlling shareholder/ executives (cont’d)Note:(1) Michael Mun Hong Yew is also a controlling shareholder of the Company.(2) Jeremy Mun Weng Hung is the son of Michael Mun Hong Yew.(3) Participants received 5.0% or more of total available options.(4) Options granted to Michael Mun Hong Yew and Jeremy Mun Weng Hung were approved by resolution passed at the EGM of theCompany dated April 12, 2004.(d)Issue of shares under optionsIn 2009, the Company issued a total of 7,220,000 ordinary shares at the following exercise price, pursuant to the exercise of options underthe ESOS 2000 to take up unissued shares of the Company:Number of ordinary sharesExercise price2,000,000 $0.1192,120,000 $0.1081,000,000 $0.1121,200,000 $0.186400,000 $0.175500,000 $0.203Except for the above, no other options to take up unissued shares of the Company and subsidiaries were granted and no other shares wereissued by virtue of the exercise of options to take up unissued shares of the Company or its subsidiaries. As at the end of the financialyear, except for the above, there were no unissued shares of any other subsidiaries under option.7 WARRANTSOn July 17, 2007, the Company allotted 104,390,250 warrants at an issue price of $0.02 for each warrant on the basis of one warrant for everyfour existing shares. On November 24, 2009, due to the Rights cum Warrants issue exercise, the number and price of the existing warrants wereadjusted accordingly, and an additional 9,948,476 warrants were allotted. Each warrant entitles the warrant holder to subscribe for one newordinary share of the Company at an adjusted exercise price of $0.47 (2008 : $0.51) per share. The warrants have an exercise period of 3 yearsfrom July 17, 2007 to July 16, 2010. As at December 31, 2009, the outstanding number of warrants is 113,792,726.On November 24, 2009, the Company allotted 81,272,000 rights shares with 81,272,000 warrants at an issue price of $0.125 for each rightsshare on the basis of one rights share with one warrant for every five existing shares. Each warrant entitles the warrant holder to subscribe forone new ordinary share of the Company at an exercise price of $0.20 per share. The warrants have an exercise period of 3 years from November24, 2009 to November 23, 2012. During the year, 8,000 new ordinary shares were issued from the conversion of warrants. As at December 31,2009, the outstanding number of warrants is 81,264,000.