EZRA HOLDINGS LIMITED 
By EZRA HOLDINGS LIMITED
(Incorporated in Singapore) (Company Registration Number: 199901411N) (the "Company")
VESTING OF SHARE AWARDS GRANTED PURSUANT TO THE EZRA EMPLOYEE SHARE PLAN
Further to the Company's announcement on the grant of share awards on 14 January 2010 (the "2010 Awards") to two directors of the Company, namely Mr Adarash Kumar A/L Chranji Lal Amarnath and Mr Tay Chin Kwang, pursuant to the Ezra Employee Share Plan approved by the shareholders at an Extraordinary General Meeting held on 28 January 2009, as amended pursuant to the resolution of the shareholders passed at the Extraordinary General Meeting held on 27 September 2012 (the "PSP"), the Company wishes to announce the vesting of one- third of the 2010 Awards as at the date of this announcement and the payment of cash in lieu of delivery of Shares in accordance with the Rules of the PSP.
The details of the vesting of the 2010 Awards are as follows:
1. Mr Adarash Kumar A/L Chranji Lal Amarnath
Date the 2010 Awards were granted | : | 14 January 2010 |
Number of Shares which were the subject of the 2010 Awards (Inclusive of Rights Issued) | : | 144,460 |
Performance Period and the Performance Target that has been achieved | : | 1st September 2008 to 31st August 2009. The performance shares accrued to the director is based mainly on the profit achieved for the group in FY 2009. The Performance Target has been achieved. The shares accrued are part of the bonuses due to the directors. |
Vesting period | : | 3 Years |
Release schedule (if any) | : | One third of the 2010 Award(s) shall vest in each year on the anniversary of the Award(s). On 14 January 2011 and 13 January 2012, a total of 96,306 of the 2010 Awards granted to Mr Adarash Kumar A/L Chranji Lal Amarnath had vested. |
Number of 2010 Share Awards vested on 14 January 2013 | : | 48,154 Pursuant to the provisions of the PSP, cash will be paid to Mr Adarash Kumar A/L Chranji Lal Amarnath in lieu of Shares. |
Market price (last done price) of securities on the date of vesting of the Award | : | S$1.25 |
Number of 2010 Share Awards : 0 that remain unvested on 14
January 2013
2. Mr Tay Chin Kwang
Date the 2010 Awards were granted | : | 14 January 2010 |
Number of Shares which were the subject of the 2010 Awards (Inclusive of Rights Issued) | : | 72,230 |
Performance Period and the Performance Target that has been achieved | : | 1st September 2008 to 31st August 2009. The performance shares accrued to the director is based mainly on the profit achieved for the group in FY 2009. The Performance Target has been achieved. The shares accrued are part of the bonuses due to the directors. |
Vesting period | : | 3 Years |
Release schedule (if any) | : | One third of the 2010 Award(s) shall vest in each year on the anniversary of the Award(s). On 14 January 2011 and 13 January 2012, a total of 48,152 of the 2010 Awards granted to Mr Tay Chin Kwang had vested. |
Number of 2010 Share Awards vested on 14 January 2013 | : | 24,078 Pursuant to the provisions of the PSP, cash will be paid to Mr Tay Chin Kwang in lieu of Shares. |
Market price (last done price) of securities on the date of vesting of the Award | : | S$1.25 |
Number of 2010 Share Awards that remain unvested on 14 January 2013 | : | 0 |
The details of all the share awards (including the share awards granted in 2010 as adjusted for the rights issue undertaken on 31 August 2010) ("Share Awards") granted and vested since the commencement of the PSP are set out below:-
Participants | Aggregate Share Awards granted since commencement of the PSP | Aggregate Share Awards Lapsed | Aggregate Share Awards vested to date | Aggregate Share Awards outstanding |
Directors of the Company | 2,198,637 | 0 | 1,785,247 | 413,390 |
Employees of the Company | 698,780 | 132,585 | 400,592 | 165,603 |
Total | 2,897,417 | 132,585 | 2,185,839 | 578,993 |
Note:
1. Controlling Shareholders are not participants of the PSP.
2. The Share Awards are granted at the discretion of a committee comprising directors of the Company who are duly authorized and appointed by the Board pursuant to Rule 13 of the PSP to administer the PSP (the "Committee"). The Committee takes into account factors such as the relevant employee's capability, scope of responsibility, skill and vulnerability to leaving the employment of the Ezra Group.
3. The shares of the Company (the "Shares") to be issued under the Award and other Shares issued and/or issuable under other share-based incentive schemes of the Company, including the ESOS 2003 scheme of the Company, shall not exceed 15% of the issued Shares of the Company, excluding treasury shares from time to time.
4. The Share Awards are subject to the terms and conditions of the PSP.
Disclosures of the PSP will be made by the Company in its annual report for so long as the
PSP continues in operation.
BY ORDER OF THE BOARD Ezra Holdings Limited
Lionel Lee
Managing Director
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