NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2011
The following table sets out the movement of time-based awards granted in the current and previous financial years
pursuant to the Share Plan and their fair values at grant date.
Number of shares 2011 grant
2010 grant
Balance at 1 January 2011 Not applicable
4,131,647
Granted in 2011 5,319,354 Not applicable
Vested in 2011 –
31,469
Forfeited in 2011 95,259
95,345
Balance at 31 December 2011 5,224,095
4,004,833
Weighted average fair value per share at grant date
14.40 14.28
Since the inception of the Share Plan, no awards have been cash-settled under the Share Plan.
41.4 DBSH Employee Share Plan
The DBSH Employee Share Plan the ESP caters to all employees of the Group who are not eligible to participate in
the DBSH Share Option Plan, the DBSH Share Plan or other equivalent plans.
Under the ESP, eligible employees are awarded ordinary shares of the Company, their equivalent cash value or a combination
of both at the discretion of the Committee, when time-based conditions are met. The ESP awards are granted at the absolute
discretion of the Compensation and Management Development Committee.
Time-based awards were granted in the current and previous financial years. The time-based awards will only vest after the
satisfactory completion of time-based service conditions. Similar to the DBSH Share Plan, effective from the 2010 grant, shares
will vest at thirty-three percent two years after the date of grant. A further thirty-three percent will vest three years after
the date of grant and the remainder thirty-four percent four years after the date of grant. The fair value of the shares
awarded are computed based on the market price of the ordinary shares at the time of the award and is amortised
through the income statement over the vesting period. At each balance sheet date, the Group revises its estimates of the
number of shares expected to vest based on non-market vesting conditions and the corresponding adjustments are
made to the income statement and Share Plan reserves. The following table sets out the movement of time-based
awards granted in the current and previous financial years pursuant to the ESP and their fair values at grant date.
Number of shares 2011 grant
2010 grant
Balance at 1 January 2011 Not applicable
342,200
Granted in 2011 526,400 Not applicable
Forfeited in 2011 57,800
35,200
Balance at 31 December 2011 468,600
307,000
Weighted average fair value per share at grant date
14.48 14.26
Since the inception of the ESP, no awards have been cash- settled under the ESP.
42 RELATED PARTY TRANSACTIONS
42.1 Transactions between the Company and its subsidiaries, including consolidated special purpose entities, which are
related parties of the Company, have been eliminated on consolidation and are not disclosed in this Note.
42.2 During the financial year, the Group had banking transactions with related parties, consisting of associates, joint
ventures and key management personnel of the Group. These included the taking of deposits and extension of credit card and
other loan facilities. These transactions were made in the ordinary course of business and carried out at arms-length
commercial terms, and are not material.
In addition, key management personnel received remuneration for services rendered during the financial year. Non-cash
benefits including performance shares were also granted.
42.3 Total compensation and fees to key management personnel
