Directors’ interests (continued)
Except as disclosed under the “Share Options” section of this report, neither at the end of, nor at any time during the financial year,
was the Company a party to any arrangement whose objects are, or one of whose objects is, to enable the directors of the Company
to acquire benefits by means of the acquisition of shares in or debentures of the Company or any other body corporate.
Equity Compensation Benefits
a)
Share options
The TeleChoice Pre-IPO Share Option Scheme (the “Pre-IPO Scheme”) and the TeleChoice Post-IPO Employee Share Option
Scheme (the “Post-IPO Scheme”) (collectively referred to as the “Schemes”), were approved and adopted by the members at
an Extraordinary General Meeting of the Company held on 7 May 2004.
The Schemes were administered by the Company’s Remuneration Committee comprising three directors, namely Bertie Cheng,
Ronald Seah Lim Siang and Sio Tat Hiang (the “Committee”).
Particulars of the Schemes have been stated in the previous Directors’ report for the financial year ended 31 December 2014,
as well as under Note 23 of the current financial statements for the financial year ended 31 December 2015.
The Pre-IPO Scheme and Post-IPO Scheme expired on 17 May 2014 and 6 May 2014 respectively. There were no share options
outstanding under the Schemes since the end of 2014.
b)
Long Term Incentive Plans
The TeleChoice Restricted Share Plan (the “TeleChoice RSP”) and TeleChoice Performance Share Plan (the “TeleChoice PSP”)
(collectively referred to as the “Plans”), were approved and adopted by the members at an Extraordinary General Meeting of
the Company held on 27 April 2007.
Information regarding the Plans is set out below:
(i)
The Plans were established with the objective of motivating senior executives to strive for superior performance and
sustaining long-term growth for the Company.
(ii)
The Plans are administered by the Committee.
(iii)
The following persons (collectively referred to as the “Eligible Persons”) shall be eligible to participate in the Plans at
the absolute discretion of the Committee:
a. employees and non-executive directors of the Company and/or any of its subsidiaries;
b. employees and non-executive directors of STTC and its subsidiaries, who may be seconded to render services and
contribute to the success of the Group; and
c. employees of associated companies.
48
TELECHOICE INTERNATIONAL LIMITED
2015 ANNUAL REPORT
DIRECTORS’
STATEMENT
