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CORDLIFE GROUP LIMITED
| ANNUAL REPORT 2015
DIRECTORS’ REPORT
DIRECTORS’ CONTRACTUAL BENEFITS
Except as disclosed in Note 34(b) of the financial statements, since the end of the previous financial year, no director
of the Company has received or become entitled to receive a benefit by reason of a contract made by the Company
or a related corporation with the director, or with a firm of which the director is a member, or with a company in
which the director has a substantial financial interest.
SHARE GRANT PLANS
At an Extraordinary General Meeting held on 18 October 2013, the shareholders of the Company approved the
Cordlife Share Grant Plan (the “Plan”) for the award of rights (the “Awards”) to participants of the Plan to receive
ordinary shares of the Company. Persons eligible to participate in the Plan comprise key senior management and
employees of the Company and non-executive directors at the absolute discretion of the Remuneration Committee
(the “RC”).
The performance targets to be set under the Plan are intended to be based on longer-term corporate objectives
covering market competitiveness, quality of returns, business growth and productivity growth. The vesting period
of the Awards ranges from 1 to 3 years. The final number of shares awarded will depend on the achievement of
pre-determined performance conditions at the end of the vesting period. No shares will be released if the threshold
targets are not met at the end of the vesting period. On the other hand, if superior targets are met, more shares
than the initial award could be delivered up to a maximum of 200% of the initial award. 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 for a period of at least one year.
Details of the Plan are disclosed in Note 33 of the financial statements.
The RC administering the Plan comprises three directors, Dr. Goh Jin Hian, Mr Joseph Wong Wai Leung and Mrs
Eileen Tay-Tan Bee Kiew.
Details of the Awards of the Company pursuant to the Plan are as follows:
Grant date
Balance as at
1 July 2014
Grants during the
financial year
Cancelled during
the financial year
Balance as at 30
June 2015
27 January 2014
138,300
–
–
138,300
16 December 2014
–
178,200
–
178,200
Details of the Awards granted to directors of the Company pursuant to the Plan are as follows:
Name of participant
Shares granted
during the
financial year
Aggregate shares
granted since
commencement
of the Plan to
the end of the
financial year
Aggregate shares
exercised since
commencement
of the Plan to
the end of the
financial year
Aggregate
shares
cancelled as
at end of the
financial year
Aggregate
shares
outstanding as at
the end of the
financial year
Mr Yee Pinh Jeremy
69,900
128,400
–
–
128,400
