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MTQ CORPORATION LIMITED
DIRECTORS’ INTERESTS IN SHARES, SHARE OPTIONS AND DEBENTURES (CONT’D)
Mr. Kuah Kok Kim is deemed to have an interest in shares of the Company’s subsidiaries and joint venture by virtue of his
interest in more than 20% of the issued share capital of the Company as at the end of the financial year.
Except as disclosed in this report, no Director who held office at the end of the financial year had interests in shares, share
options or debentures of the Company or of related corporations, either at the beginning of the financial year, or at the
end of the financial year.
SHARE PLAN
(a)
The Group has adopted a compensation scheme, known as the MTQ Share Plan (the “Share Plan”), approved
by shareholders of the Company at an Extraordinary General Meeting held on 26 July 2013, to grant the right to
receive fully paid ordinary shares (“Award”). The Share Plan,
inter alia
, allows for the participation of employees of
the Group and employees of associated companies (a company as defined in the Listing Manual of the Singapore
Exchange Securities Trading Limited (“SGX-ST”)) who meet the eligibility criteria, but does not include any
controlling shareholders and their associates as defined in the Listing Manual of SGX-ST, nor the Non-Executive
Directors.
The Share Plan is administered by the Remuneration Committee which comprises the following members:
Huang Yuan Chiang (Chairman)
Nicholas Campbell Cocks
Ong Choo Eng
The selection of the participants in the Share Plan and the grant of Award are determined by the Remuneration
Committee at its absolute discretion.
(b)
The principal terms of the Share Plan are:
(i)
Size and Duration
The total number of new shares which may be delivered by the Company pursuant to the Awards granted
under the Share Plan (“the New Shares”) on any date, when added to the aggregate number of ordinary
shares issued or issuable under any other share schemes which may be implemented by the Company,
shall not exceed 15% of the total number of issued ordinary shares (excluding treasury shares) on the date
preceding the date of grant.
The Share Plan shall continue in force at the discretion of the Remuneration Committee subject to amaximum
of 10 years commencing from the date it is adopted by the Company in general meeting, provided always
that the Share Plan may continue beyond this stipulated period with the approval of the shareholders by
ordinary resolution in general meeting and of any relevant authorities which may then be required.
Notwithstanding the expiry or termination of the Share Plan, any grant of Awards made pursuant to the
Share Plan prior to such expiry or termination will continue to remain valid.
DIRECTORS’
STATEMENT
