55
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 March 2016
2015/2016 ANNUAL REPORT
SINGAPORE SHIPPING CORPORATION LIMITED SHARE OPTION PLAN AND
PERFORMANCE SHARE PLAN
The Company has in place the Singapore Shipping Corporation Limited Share Option Plan 2015 (“SSC
SOP”) and the Singapore Shipping Corporation Limited Performance Share Plan 2015 (“SSC PSP”).
The SSC SOP and the SSC PSP were approved by shareholders of the Company at the Annual General
Meeting held on 30 July 2015. The SSC SOP and the SSC PSP are administered by the Remuneration
Committee (“RC”) which comprises the following three independent and non-executive directors who do
not participate in either the SSC SOP or the SSC PSP:
Stanley Lai Tze Chang (Chairman)
Tan Guong Ching
Ng Jui Ping
SSC SOP
• The persons eligible to participate in the SSC SOP are selected employees (which may include
executive directors) of the Group of such rank as the RC may determine, and other participants
selected by the RC, but shall exclude non-executive directors of the Group, independent directors
of the Company and controlling shareholders. As at the date of this statement, no associate of any
controlling shareholder is a participant in the SSC SOP.
• SSC SOP shall continue in force at the absolute discretion of the RC, subject to a maximum period of
10 years from 30 July 2015 (unless extended with the approval of the shareholders and any relevant
authorities).
• The RC has the full discretion to grant options at an exercise price of either market price or at a
discount to market price (provided that such discount shall not exceed 20% of the market price).
Market price shall be determined based on an average of the last dealt prices for the shares on the
Singapore Exchange Securities Trading Limited for the three consecutive market days immediately
preceding the date of the grant of the relevant option.
• Options granted at market price may be exercised after the expiry of one year from the date of the
grant, whereas options granted at a discount to market price may only be exercised after the expiry of
two years from the date of the grant.
• At the end of the financial year, there were no outstanding options granted under the SSC SOP.
DIRECTORS’
TEMENT
for the fi ancial year ended 31 March 1
