4. Directors’ interests in shares, warrants or debentures The directors of the Company holding office at the end of the financial year had no interests in the share capital, warrants and debentures of the Company and its related corporations as recorded in the Register of Directors’ Shareholdings kept by the Company under Section 164 of the Act, except as disclosed below: Direct interest Deemed interest Name of the directors and respective companies in which interests are held At beginning of the financial year At end of the financial year At beginning of the financial year At end of the financial year Number of ordinary shares The Company Keong Hong Holdings Limited Leo Ting Ping Ronald 5,231,180 5,231,180 22,500,000 22,500,000 Er Ang Hooa 350,000 350,000 – – Xu Quanqiang – – – 586,800 By virtue of Section 7 of the Act, Mr. Leo Ting Ping Ronald is deemed to have an interest in all related corporations of the Company. In accordance with the continuing listing requirements of the Singapore Exchange Securities Trading Limited (“SGX-ST”), the Directors of the Company state that, according to the Register of the Directors’ Shareholdings, the Directors’ interests as at 21 October 2024 in the shares or debentures of the Company and its related corporations have not changed from those disclosed as at 30 September 2024. 5. Share options (a) Options to take up unissued shares At the Company’s Extraordinary General Meeting held on 21 November 2011, the shareholders approved the Keong Hong Holdings Limited Employee Share Option Scheme (the “Scheme”). The Scheme is administered by the Company’s Remuneration Committee, comprising Chong Wai Siak, Fong Heng Boo and Koh Tee Huck Kenneth (the “Committee”). This Scheme is designed to reward and retain the eligible participants whose services are vital to the success of the Company. Under the rules of the Scheme, Executive Directors and Non-Executive Directors and employees of the Group, who are not controlling shareholders are eligible to participate in the Scheme. Other information regarding the Scheme is set out below: – The exercise price of the options can be set at a price at a discount to the market price not exceeding 20% of the market price; – The market price is determined based on the average of the last dealt prices of the ordinary shares of the Company on the Main Board of the Singapore Exchange Securities Trading Limited (“SGX-ST”) over the five consecutive market days immediately preceding the date of grant; – The vesting of the options is conditional on the eligible participants completing another two years of service to the Group. Once they have vested, the options are exercisable over a period of 8 years; and – All options are settled by physical delivery of shares. The aggregate number of shares over which the Committee may grant options on any date, when added to the number of shares issued or issuable and/or transferred or transferable in respect of all options granted under the Scheme and any other share schemes of the Company, shall not exceed 15% of the issued shares (excluding treasury shares) of the Company on the date immediately preceding the grant of an option (or such other limit as the SGX-ST may determine from time to time). This scheme had expired on 21 November 2021. Notwithstanding the expiry of the scheme, there are options granted previously which have yet to be exercised/expired. 49 ANNUAL REPORT 2024 DIRECTORS’ STATEMENT
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