Annual Report 2015
89
REPORT OF THE DIRECTORS
NWCL 2002 Share Option Scheme and
NWCL 2011 Share Option Scheme
The period within which the shares must
be taken up under an option
At any time during a period to be notified by NWCL’s directors,
which period not to exceed five years commencing on the expiry
of one month after the date on which the option is accepted and
expiring on a date not later than the last day of the five-year period.
The minimum period for which an option
must be held before it can be exercised
One month.
The amount payable on application or
acceptance of the option and the period
within which payments or calls must or
may be made or loans for such purposes
must be paid
HK$10.0 is to be paid as consideration for the grant of option within
28 days from the date of offer.
The basis of determining the exercise
price
The exercise price shall be determined by NWCL’s directors, being
at least the higher of:
(a) the closing price of shares as stated in the HKEx’s daily
quotations sheet on the date of offer, which must be a
business day; and
(b) the average closing price of shares as stated in the HKEx’s
daily quotations sheets for the five business days immediately
preceding the date of offer.
The remaining life of the schemes
The NWCL 2002 Share Option Scheme expired on 26 November
2012. The NWCL 2011 Share Option Scheme shall be valid and
effective for a period of 10 years from the date of adoption, i.e.
22 November 2011.
Share options granted to Directors
NWCL 2002 Share Option Scheme
Name
Date of grant
Exercisable
period
(Note)
Number of share options
Exercise
price
per share
HK$
Balance
as at
1 July 2014
Exercised
during
the year
Lapsed
during
the year
Balance
as at
30 June
2015
Dr. Cheng Kar-Shun, Henry
18 January 2011
(1)
2,077,922
–
–
2,077,922
3.036
Dr. Cheng Chi-Kong, Adrian
18 January 2011
(2)
935,066
–
–
935,066
3.036
Mr. Cheng Kar-Shing, Peter
18 January 2011
(1)
831,169
–
–
831,169
3.036
Mr. Lee Luen-Wai, John
18 January 2011
(1)
311,688
–
–
311,688
3.036
4,155,845
–
–
4,155,845
DIRECTORS’ INTERESTS IN SHARES, UNDERLYING SHARES AND DEBENTURES
(continued)
(B) Long position in underlying shares – share options
(continued)
Share Option Schemes of New World China Land Limited (“NWCL”)
(continued)
