Investor Presentaiton
HKAS 1.51(a)
HKAS 1.49
HK Listco Ltd
Financial statements for the year ended 31 December 2023
29
EQUITY SETTLED SHARE-BASED TRANSACTIONS
HKFRS 2.45
HKFRS 2.45(a)
(a)
(b)
HKFRS 2.45(b) & (c)
HKFRS 2.45(c)
The company has a share option scheme which was adopted on 1 March 2019 whereby the directors
of the company are authorised, at their discretion, to invite employees of the group, including
directors of any company in the group, to take up options at nil consideration to subscribe for shares
of the company 245. The options vest after one year from the date of grant and are then exercisable
within a period of two years. Each option gives the holder the right to subscribe for one ordinary share
in the company and is settled gross in shares.
The terms and conditions of the grants are as follows:
Number of
instruments
Vesting conditions
Contractual life of
options
Options granted to directors:
- on 1 November 2020
- on 1 July 2022
200,000 One year from the date of grant
1,500,000 One year from the date of grant
3 years
3 years
Options granted to employees:
- on 1 July 2022
-on 1 May 2023
3 years
5,000,000 One year from the date of grant
500,000 One year from the date of grant
7,200,000
3 years
Total share options granted
The number and weighted average exercise prices of share options are as follows:
2023
2022
Weighted
average exercise
Number of Weighted average
options
exercise price
Number of
options
price
'000
'000
Outstanding at the beginning of the period
$6.00
6,700
$6.00
200
Exercised during the period
$6.00
(1,000)
Forfeited during the period 246
$6.00
(200)
Granted during the period
$6.50
500
$6.00
6,500
Outstanding at the end of the period
$6.04
6,000
$6.00
6,700
Exercisable at the end of the period
$6.00
5,500
$6.00
200
The weighted average share price at the date of exercise for shares options exercised during the year
was $6.60 (2022: not applicable). 24
247
HKFRS 2.45(d)
The options outstanding at 31 December 2023 had an exercise price of $6.00 or $6.50 (2022: $6.00)
and a weighted average remaining contractual life of 1.6 years (2022: 2.5 years). 248
R17.09(8)
245
Chapter 17 of the MBLRs also requires the disclosure of the basis of determining the exercise price of options granted or the
purchase price of shares awarded, if any, of each share scheme. This information may be disclosed in the annual financial
statements or in the directors' report as illustrated in this annual report (see page 17).
HKFRS 2.45(b)
HKFRS 2.45(c)
246
Grants which expired during the period should also be disclosed separately, if applicable.
247
248
HKFRS 2.45(d)
If options were exercised on a regular basis throughout the period, the weighted average share price during the period may be
disclosed as an alternative.
If the range of exercise prices is wide, the outstanding options could be divided into ranges that are meaningful for assessing the
number and timing of additional shares that may be issued and the cash that may be received upon the exercise of those options.
155
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