56
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 March 2016
SINGAPORE SHIPPING CORPORATION LIMITED
SINGAPORE SHIPPING CORPORATION LIMITED SHARE OPTION PLAN AND
PERFORMANCE SHARE PLAN (CONTINUED)
SSC PSP
• The persons eligible to participate in the SSC PSP are either selected employees of the Group of such
rank as the RC may determine, or other participants as selected by the RC at its discretion, but shall
exclude the independent directors of the Company, controlling shareholders and the associates of
such controlling shareholders.
• SSC PSP 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).
• An award granted under the SSC PSP represents the right to receive fully paid shares, free of charge,
provided that certain pre-determined performance conditions (if applicable) are satisfied within the
performance period (if applicable) during which such performance conditions are to be satisfied.
• At the end of the financial year, no awards under the SSC PSP have been granted to controlling
shareholders or their associates, and directors, and no employee has received 5% or more of the total
number of shares available/delivered pursuant to the grants under the SSC PSP.
At the end of the financial year, seven employees of the Group have been granted awards in relation to an
aggregate number of 332,000 shares under the SSC PSP. Details of such awards granted under the SSC
PSP are as follows:
Date of grant
Market price on
date of grant
S$
Number of share
awards granted as at
31 March 2016
Number of share
award holders as
at 31 March 2016 Vesting period
30 July 2015
0.34
332,000
7
No vesting period
imposed, shares were
released and issued
to the grantees on 30
July 2015
Size of SSC SOP and the SSC PSP
The aggregate number of shares which may be issued or delivered pursuant to options granted under the
SSC SOP and awards granted under the SSC PSP, together with shares, options or awards granted under
any other share scheme of the Company then in force (if any), shall not exceed 15% of the issued share
capital of the Company, excluding treasury shares.
DIRECTORS’ STATEMENT
f r the financial year ended 31 March 2016
