PSA International Pte Ltd Annual Report 2010
D irectors Report
Year ended 31 December 2010
Holdings at beginning of the year/date of appointment
Holdings at end of the year
Name of director and corporation in which interests are held
Koh Poh Tiong Singapore Telecommunications Limited
Kua Hong Pak Singapore Telecommunications Limited
Ng Chee Keong Singapore Telecommunications Limited
Tan Chin Nam Singapore Airlines Limited
Singapore Telecommunications Limited
Balance of unvested restricted shares to be released according to the stipulated vesting periods.
A minimum threshold performance over a one year period is required for any restricted shares to be released. A specified number of restricted shares to be released will depend on the extent of achievement of all performance conditions and will be delivered in phases according to the stipulated vesting periods.
The shares under the time-based restricted award will be vested in 2011.
Except as disclosed in this report, no director who held office at the end of the financial year had interests in shares, debentures, warrants or share options 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.
Except as disclosed under the “Share Options” section of this report, neither at the end of, nor at any time during the financial year, was the Company a party to any arrangement whose objects are, or one of whose objects is, to enable the directors of the Company to acquire benefits by means of the acquisition of shares in or debentures of the Company or any other body corporate.
Except for salaries, bonuses and fees that are disclosed in note 33 to the financial statements, since the end of the last financial year, no director 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 he is a member, or with a company in which he has a substantial financial interest.