351 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2022 KENANGA INVESTMENT BANK BERHAD Annual Report 2022 54. EQUITY COMPENSATION BENEFITS (CONT’D.) Kenanga’s Group Employees’ Share Scheme (“ESS”) (cont’d.) (1) ESOS (cont’d.) ESOS Fifth Offer Tranches of vesting: First tranche Second tranche Third tranche Fourth tranche Fair value of share options (RM) 0.0981 0.102 0.1046 0.1038 Share price at offer date (RM) 0.550 0.550 0.550 0.550 Exercise price (RM) 0.580 0.580 0.580 0.580 Expected volatility (%) 29.450% 29.450% 29.450% 29.450% Risk free rate (%) 2.480% 2.480% 2.480% 2.480% Expected dividend yield (%) 7.220% 7.220% 7.220% 7.220% The exercise period is 3 years from vesting date. ESOS Sixth Offer Tranches of vesting: First tranche Second tranche Third tranche Fourth tranche Fair value of share options (RM) 0.2105 0.2244 0.2259 0.2205 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.
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