349 How We Are Governed Financial Statements Shareholders’ Information Additional Information 54. EQUITY COMPENSATION BENEFITS (CONT’D.) Kenanga’s Group Employees’ Share Scheme (“ESS”) (cont’d.) (1) ESOS (cont’d.) ESOS Sixth Offer Tranches of vesting: First tranche Second tranche Third tranche Fourth tranche Fair value of share options (RM) 0.2664 0.2746 0.2692 0.2579 Share price at offer date (RM) 1.270 1.270 1.270 1.270 Exercise price (RM) 1.370 1.370 1.370 1.370 Expected volatility (%) 35.713% 35.713% 35.713% 35.713% Risk free rate (%) 2.500% 2.500% 2.500% 2.500% Expected dividend yield (%) 9.263% 9.263% 9.263% 9.263% The exercise period is 3 years from vesting date. (2) ESGP Under the ESGP award, the ESS Committee may, within the period of the Scheme and at its discretion, grant to the eligible employees an ESGP awards, in the form of Restricted Share Plan (“RSP”) and/or Performance Share Plan (“PSP”). Subject to acceptance, the awards will be vested to the grantees at no consideration, provided all the vesting conditions as determined by the ESS Committee are fulfilled, in accordance with the terms of the by-laws and taking into account the objectives of the RSP and the PSP as stipulated. Key features of the RSP and PSP awards are as follow: (a) RSP The RSP is a restricted share incentive plan, in recognition of the loyalty and individual contributions of the eligible employees towards the development, growth and success of the Group. The vesting conditions are stipulated and determined by the ESS Committee, which may include, amongst others, the achievement of individual performance as measured by both qualitative and quantitative key performance indicators (“KPIs”), during such period as stipulated in the ESGP award.
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