Cordlife Group Limited
Annual Report 2016
47
Directors’
Statement
There was no change in any of the above-mentioned interests in the Company between the end of the financial year
and 21 July 2016.
Except as disclosed in this statement, no director who held office at the end of the financial year had interests in
shares, share options, warrants or debentures of the Company, or of related corporations, either at the beginning of
the financial year, or date of appointment if later, or at the end of the financial year.
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 35 of the financial statements.
The RC administering the Plan comprises two directors, Dr Goh Jin Hian and Mr Joseph Wong Wai Leung.
Details of the Awards of the Company pursuant to the Plan are as follows:
Grants during Vested during
Cancelled
Balance as at
the financial
the financial
during the
Balance as at
Grant date
1 July 2015
year
year
financial year
30 June 2016
Performance Share Award
27 January 2014
138,300
–
(61,000)
(49,400)
27,900
16 December 2014
178,200
–
–
(92,400)
85,800
28 December 2015
–
267,300
–
(106,300)
161,000
316,500
267,300
(61,000)
(248,100)
274,700
Restricted Share Award
28 December 2015
–
47,800
–
(2,200)
45,600
Deferred Share Award
15 April 2016
–
544,800
–
(408,600)
136,200
