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13 SHARE OPTIONS AND SHARE PLANS
13.1 DBSH SHARE OWNERSHIP SCHEME
The DBSH Share Ownership Scheme the “SOS” is a fund set up to hold units of DBSH ordinary shares and is administered by DBS Trustee Ltd, a wholly owned subsidiary company of
DBS Bank. All confirmed employees with at least one year of service and who are not participating in the DBSH Share Option PlanScheme are eligible to contribute up to 10 of
their monthly base pay to buy units of DBSH ordinary shares. DBSH Group will top up 50 of the employee’s contribution as additional incentive to the employee.
Details of the DBSH ordinary shares held by DBS Trustee Ltd pursuant to the DBSH Share Ownership Scheme are as follows:
Number of DBSH ordinary shares
Market value of DBSH ordinary shares S’million
2002 2001
2002 2001
At beginning of the year 2,807,529
2,321,029 38
45 At end of the year
3,281,329 2,807,529
36 38
13.2 DBSH SHARE OPTION SCHEME
The DBSH Share Option Scheme was terminated on October 18, 1999, and the outstanding existing unexercised options the “DBSH Options” will continue to remain valid until the date
of expiration of the relevant DBSH Options.
The movements of the unissued ordinary shares of DBSH of par value S1.00 each comprised in outstanding existing unexercised options are as follows:
Number of unissued
ordinary
shares During the year
Number of unissued
ordinary
shares Subscription
price per ordinary share
Date of expiration
DBSH Options
January 1, 2002
Exercised Lapsed
December 31, 2002
1997 1,163,612
1,163,596 16
- S7.29
May 5, 2002 1998
1,145,144 213,156
25,200 906,788
S7.69 April 7, 2003
2,308,756 1,376,752
25,216 906,788
Ordinary shares of DBSH of par value S1.00 issued upon exercise of share options during the year ended December 31, 2002 yielded the following proceeds, at the following market value:
In S’million 2002
2001
Ordinary share capital – at par 1
1 Share premium
9 9
Proceeds 10
10 Market value, at exercise date, of shares issued
19 20
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13.3 DBSH SHARE OPTION PLAN
Under the DBSH Share Option Plan the “Option Plan”, options to subscribe for DBSH ordinary shares could be granted to DBSH Group executives who hold the rank of Vice President or
equivalent rank and above and selected employees of DBSH Group of a rank below the rank of Vice President or equivalent rank. This would also include executives of associated companies of
DBSH Group who hold the rank of Vice President or equivalent rank; and non-executive directors of DBSH.
The movements of the unissued ordinary shares of DBSH of par value S1.00 each comprised in outstanding DBSH options granted under the Option Plan were as follows:
Number of unissued
ordinary
shares During the year
Number of unissued
ordinary
shares Subscription
price per ordinary
share Date of
expiration DBSH
Options
January 1, 2002
Granted Exercised
Lapsed December 31,
2002
1999 4,377,358
- -
120,897 4,256,461
S15.30 July 27, 2009
March 2000 1,750,800
- -
53,800 1,697,000
S20.87 March 5, 2010
July 2000 1,188,800
- -
35,000 1,153,800
S22.33 July 26, 2010
March 2001 13,093,000
- -
900,000 12,193,000
S17.70 March 14, 2011
June 2001 21,000
- -
- 21,000
S14.76 May 31, 2011
August 2001 1,682,000
- -
182,000 1,500,000
S12.93 July 31, 2011
October 2001 11,655
- -
- 11,655
S10.73 October 30, 2011
January 2002 -
50,500 -
- 50,500
S13.70 January 1, 2012
March 2002 -
12,876,240 -
548,000 12,328,240
S14.73 March 27, 2012
August 2002 -
1,329,000 -
39,000 1,290,000
S12.27 August 15, 2012
October 2002 -
9,260 -
- 9,260
S11.73 October 9, 2012
December 2002
- 20,000
- -
20,000 S11.47
December 17, 2012 22,124,613
14,285,000 -
1,878,697 34,530,916
Ordinary shares of DBSH of par value S1.00 issued upon exercise of share options during the year yielded the following proceeds, at the following market value:
In S’million 2002
2001
Ordinary share capital – at par -
Share premium -
1 Proceeds
- 1
Market value, at exercise date, of shares issued -
1
Amount under S500,000
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13.4 DBSH PERFORMANCE SHARE PLAN