Annual Report 2024

243 2024 Annual Report Transport International Holdings Limited NOTES TO THE FINANCIAL STATEMENTS (Expressed in Hong Kong dollars unless otherwise indicated) 22 Equity-settled share-based transactions (continued) (a) The terms and conditions of the grants are as follows: (continued) Vesting condition (iii): Percentage of options granted On or after 31 March 2024 50% On or after 31 March 2025 100% Vesting condition (iv): Percentage of options granted On or after 31 March 2024 30% On or after 31 March 2025 60% On or after 31 March 2026 100% (b) The number and weighted average exercise prices of share options are as follows: 2024 2023 Weighted average exercise price Number of share options Weighted average exercise price Number of share options ’000 ’000 Outstanding at the beginning of the year $12.50 24,435 $15.32 10,425 Granted during the year – – $10.60 15,970 Cancelled during the year $11.93 (2,490) $12.04 (1,960) Lapsed during the year $12.87 (830) – – Outstanding at the end of the year $12.55 21,115 $12.50 24,435 Exercisable at the end of the year $13.62 13,658 $15.32 9,825 The options outstanding at 31 December 2024 had a weighted average exercise price of $12.55 (2023: $12.50) and weighted average remaining contractual lives of 2.3 years (2023: 3.3 years).