114
CORDLIFE GROUP LIMITED
| ANNUAL REPORT 2015
NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2015
32.
INVESTMENT IN SUBSIDIARIES
(CONTINUED)
Summarised statement of comprehensive income
Cordlife Sciences
(India) Pvt. Ltd.
2015
$
Revenue
12,588
Loss before income tax
(1,679)
Income tax expense
–
Loss for the year, representing total comprehensive loss for the year
(1,679)
Other financial information
Net cash flows used in operations
(2,903)
Acquisition of significant property, plant and equipment
861
33.
EMPLOYEE BENEFITS EXPENSE
Group
2015
2014
$’000
$’000
Salaries, bonuses and other short-term benefits
14,559
11,527
Central Provident Fund contributions
919
826
Share-based compensation expense (Cordlife Share Grant Plan)
108
45
15,586
12,398
These include the amount shown as key management personnel compensation in Note 34(b).
Cordlife Share Grant Plan
The Cordlife Share Grant Plan is a share-based long-term incentive plan for selected key management
personnel, which was approved by shareholders at an Extraordinary General Meeting held on 18 October 2013.
The details of the plan are described below:
Plan Description
Award of fully-paid ordinary shares of the Company, conditional upon
the satisfaction of specific performance targets set at the start of
a two-year performance period based on medium-term Group and
Company objectives.
Performance conditions
Average Return on Invested Capital and Absolute Shareholders’ Return.
Vesting conditions
Based on meeting stated performance conditions over a two-year
performance period, 50% of award will vest. Balance will vest in the
third year.
Payout
0%-200% depending on the achievement of pre-set performance
targets over the performance period. In addition, for a period of at least
one year after the award of the shares, 50% of all shares awarded to
the participants under the Plan may not be transferred or otherwise
disposed of.
