Annual Report 2019

ANNUAL REPORT 2019 127 DIRECTORS’ REPORT EQUITY-LINKED AGREEMENTS Details of the equity-linked agreements entered into by the Company are disclosed under the section headed “Share Option Schemes” below and in note 45 to the consolidated financial statements. SHARE OPTION SCHEMES (A) FECIL Share Option Schemes FECIL Share Option Schemes were adopted for the purpose of providing incentives and rewards to employees or executives or officers of the Company or any of its Subsidiaries (including Executive and Non-executive Directors) and business consultants, agents and legal or financial advisers who will contribute or have contributed to the Company or any of its Subsidiaries. Under FECIL Share Option Schemes, the Directors may grant options to eligible employees including directors of the Company and its Subsidiaries, to subscribe for shares of the Company. The Company’s old share option scheme adopted on 28 August 2002 was expired on 28 August 2012. In order to continue to provide incentives and rewards to the eligible employees and participants, the Company adopted a new share option scheme pursuant to a resolution passed by the Shareholders on 31 August 2012 for a period of 10 years commencing on the adoption date. The following table discloses movements in the Company’s share options during the Year: Number of share options Category of grantee Date of grant Exercise price per share Outstanding at 1 April 2018 Granted during the Year Exercised during the Year Lapsed/ cancelled during the Year Outstanding at 31 March 2019 Exercise period (i) HK$ Employees in aggregate 27.03.2013 2.550 225,000 – (225,000) – – 1 March 2014 – 28 February 2020 300,000 – (300,000) – – 1 March 2015 – 28 February 2020 375,000 – (375,000) – – 1 March 2016 – 28 February 2020 600,000 – (600,000) – – 1 March 2017 – 28 February 2020 1,500,000 – (1,500,000) – – Total 1,500,000 – (1,500,000) – – Note: (i) The vesting period of the share options is from the date of grant until the commencement of the exercise period. As at the date of this annual report, the total number of Shares available for issue under FECIL Share Option Schemes is 156,975,707, representing approximately 6.68% of the issued share capital of the Company as at the date of this annual report. Further information on FECIL Share Option Schemes and the options granted by the Company is set out in note 45 to the consolidated financial statements.