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SEE HUP SENG LIMITED
Annual Report 2012
28
Report of the Directors
31 DECEMBER 2012
5 Share Options (Continued)
The See Hup Seng Employee Share Option Scheme (Continued)
(ii) Eligibility to participate in the Scheme
Confirmed group employees (including Directors) who have attained the age of 21 years on or prior to the
relevant date of grant and are not undischarged bankrupts and have not entered into a composition with
their respective creditors, and who have, as of the date of grant, been in the employment of the Group
for a period of at least twelve (12) months or such shorter period as the Committee may determine, shall
be eligible to participate in the Scheme at the absolute discretion of the Committee.
Controlling shareholders and their associates (as defined in the Listing Manual of the Singapore Exchange
Securities Trading Limited) are not entitled to participate in the Scheme.
(iii) Grant of Options
The Committee may offer to grant options as it may select in its absolute discretion at any time during
the period when the Scheme is in force, except that no option shall be granted during the period of 30
days immediately preceding the date of announcement of the Company’s interim and/or final results. In
addition, in the event that an announcement on any matter of an exceptional nature involving unpublished
price sensitive information is made, an offer to grant options may only be made on or after the second
Market Day (as defined in the Listing Manual of the Singapore Exchange Securities Trading Limited) on
which such announcement is released.
(iv) Exercise Period
Subject to the other rules of the Scheme and any other conditions as may be introduced by the Committee
from time to time, an option granted can be exercised by the option holder as follow:
(a) in the case of a market price option which is granted to a group employee, a period commencing
after the 1st anniversary of the date of grant and expiring on the 4th anniversary of such date of
grant; and
(b) in the case of a discount option which is granted to a group employee, a period commencing
after the 2nd anniversary of the date of grant and expiring on the 5th anniversary of such date of
grant.
(v) Exercise Price
The exercise price for each share in respect of which an option is exercisable shall be determined by the
Committee, in its absolute discretion, on the date of grant, at:
(a) in the case of a market price option which is granted to a group employee, a price equal to
the average of the last dealt prices of the shares of the Company on the SGX-ST for the three
consecutive Market Days immediately preceding the date of grant (“Market Price”); or
(b) in the case of a discount option which is granted to a group employee, a price which is set at a
discount not exceeding ten per cent (10%) of the Market Price.