13) SHARE CAPITAL
(Cont’d)
2013/2018 WARRANTS
(Cont’d)
d) the new ordinary shares to be issued pursuant to the exercise of the warrants upon
allotment and issue, shall rank pari passu in all respect with the existing ordinary shares
of the Company except that the new ordinary shares shall not be entitled to any dividends,
rights, allotment and/or other distribution that may be declared, made or paid prior to the
date of allotment and issuance of the rights shares.
SHARE ISSUANCE SCHEME (“SIS”)
The Company’s SIS is governed by the By-Laws approved by the shareholders at an Extraordinary
General Meeting held on 28th May 2014. The effective date for the implementation of the SIS was
3rd June 2014, which is the date of full compliance of the SIS in accordance with the Paragraph
6.43(1) of the Bursa Malaysia Securities Berhad Listing Requirements. Each option entitles the
exerciser a right to subscribe for one (1) new ordinary share of RM0.10 each in the Company
at an exercise price of RM0.10 per option.
The salient features and conditions of the Scheme are as follows:
a) the total number of new shares to be offered and issued under the Scheme shall not exceed
fifteen percent (15%) of the total issued and paid up share capital of the Company at any
point of time during the duration of the Scheme;
b) eligible persons are confirmed employees including executive and non-executive directors
of the Group and have been employed or appointed by the Company in the Group, which
is not dormant;
c) not more than ten percent (10%) of the proposed allocation under the Scheme to be
allocated to any eligible person, who, either singly or collectively through persons connected
with the eligible person, holds twenty percent (20%) or more of the total issued and paid-up
share capital;
d) the option price may be at a discount of not more than ten percent (10%) from the five (5)
days weighted average market price of the underlying shares preceding the date of offer
or at par value of the ordinary shares of the Company, whichever is higher; and
e) the Scheme shall be in force for a period of five (5) years and extendable for another five
(5) years from the effective date.
During the financial year, the Company granted 156,000,000 shares under the SIS to all eligible
persons of the Group.
Asia Media Group Berhad Annual Report 2014
107
NOTES TO THE FINANCIAL STATEMENTS
(Cont’d)
