Events 2005 - ChartNexus

Directors’ Report
WARRANTS 2000/2005
Pursuant to a deed poll dated 15 September 2000 (“Deed Poll”), the Company has issued 18,976,728 warrants (“Warrants”) in
conjunction with the issue of RM250,000,000 nominal value of 4.0% redeemable unsecured bonds 2000/2005.
The salient features of the Warrants as per the Deed Poll were as follows:
(a) Each Warrant entitles the registered holders at any time during the exercise period to subscribe for one (1) share of RM1.00 each
at an exercise price of RM10.95 per ordinary share.
(b) The exercise price and the number of Warrants are subject to adjustment in accordance with the conditions provided in the Deed
Poll.
(c) The exercise period is four years and nine months from the date of issue to expire on 15 September 2005.
(d) At the expiry of the exercise period, any Warrants which have not been exercised will lapse and cease to be valid for any purposes.
Pursuant to the Deed Poll, the exercise price and number of the Warrants was adjusted to RM5.48 per warrant and 37,953,456 warrants
effective from 3 October 2001 respectively. This adjustment arose from the Company’s Bonus issue of one share for every existing share
held.
The Warrants were granted for listing and quotation with effect from 28 February 2001. The warrants were expired on 15 September
2005. Number of warrants exercised during the financial year ended 31 December 2005 was 34,382,353 (2004: 3,235,800). The
remaining unexercised warrants of 335,303 lapsed upon expiry of the warrants.
EMPLOYEES’ SHARE OPTION SCHEME
An Employees’ Share Option Scheme (“ESOS”) was implemented on 13 February 2001 for the benefit of the executive directors and
eligible employees, following approvals from shareholders and the Securities Commission (“SC”).
The salient features of the ESOS as per the By-Laws are as follows:
(a) The maximum number of shares to be offered under the Scheme shall not exceed 10% of the issued and paid up share capital of
the Company at any point in time during the duration of the Scheme or such additional number as may be permitted by the SC
during the duration of the Scheme.
(b) The employees and executive directors who are eligible to participate in the Scheme must as at the date of offer be at least 18
years of age and is a confirmed employee with at least one (1) year of continuous service with the Group.
(c) The option granted shall be in force for a period of five (5) years from 13 February 2001.
(d) The option price for each new share under the ESOS shall be determined at a discount of not more than 10% from the 5-day
weighted average market price of the share immediately preceding the date on which the offer is made by the option committee
or the par value of the share, whichever is higher.
(e) The employees and executive directors to whom the options have been granted have no right to participate, by virtue of these
options, in any share issue of any other Company.
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