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EMPLOYEES' SHARE OPTION SCHEME
The Malaysian Resources Corporation Berhad's Employees' Share Option Scheme (‘ESOS’ or the
‘Scheme’) was approved by the shareholders at an Extraordinary General Meeting held on 12
August 2002 and became effective subsequent to the financial year under review on 5 September
2002. This Scheme replaces the previous ESOS that expired on 3 April 2001.
The details of the ESOS are contained in the Bye-Laws and the salient features thereof are as
follows:
(a) The Scheme is set up for the participation in the ordinary share capital of the Company only.
The total number of shares to be offered under the ESOS shall not exceed 10% of the
total number of issued and fully paid ordinary shares of the Company at any time during
the tenure of the Scheme, which shall be in force for a period of five (5) years commencing
5 September 2002.
(b) Eligible employees (including Executive Directors) are those who must have been confirmed
in his/her position as an employee with a minimum of six (6) months continuous service on
or prior to the date of offer of the ESOS.
(c) The Scheme is administered by an Option Committee which comprises senior management
staff appointed by the Board of Directors.
(d) An Option granted under the ESOS is capable of being exercised by the grantee by
notice in writing to the Company commencing from the date of the offer and expiring on
4 September 2007.
(e) Options granted for each year may be exercised in full or in such lesser number of shares
provided that the number shall be in multiples of and not less than 1,000 shares.
(f) The option price of each share shall be at a discount of not more than 10% from the
weighted average market price of the shares of the Company as stated in the Daily Official
Listing issued by the Kuala Lumpur Stock Exchange for the five (5) market days immediately
preceding the date of offer and shall not be less than the par value of the share.
(g) An eligible employee can only participate in one ESOS implemented by any company in the
Group at any one time.
(h) All the new ordinary shares issued arising from the ESOS shall rank pari-passu in all respects
with the existing ordinary shares of the Company.
Laporan Tahunan 2002 Annual Report
DIRECTORS’ REPORT (CONTINUED)
83