UNITED INDUSTRIAL CORPORATION LIMITED AND ITS SUBSIDIARIES SUMMARY FINANCIAL STATEMENT
SUMMARY DIRECTORS’ REPORT
Arrangements to enable directors to acquire shares and debentures
Neither at the end of nor at any time during the financial year was the Company a party to any arrangement whose object was 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.
Options and warrants
The United Industrial Corporation Limited Share Option Scheme (“ESOS”) as set out in the Circular dated 25 April 2001 was approved at a shareholders’ meeting held on 18 May 2001.
Only full time confirmed executives of the Company or any of its subsidiary companies (including executive directors) are eligible for the grant of executive options at the discretion of the Remuneration Committee which administers the ESOS. Neither non-executive directors of the Group nor controlling shareholders or their associates are entitled to participate in the ESOS.
The Remuneration Committee comprises the following directors, a majority of whom are non-executive directors who are independent of Management and chaired by an independent non-executive director:
Alvin Yeo Khirn Hai Wee Cho Yaw James L. Go Gwee Lian Kheng Lim Hock San
During the financial year and since the inception of the ESOS, no options to take up unissued shares were granted by the Company under the ESOS.
There were no shares issued during the financial year by virtue of the exercise of options to take up unissued shares of the Company or any subsidiary company whether granted before or during the financial year, except as disclosed in this report.
There were no unissued shares of the Company or any subsidiary company under any options as at the end of the financial year.
- United Industrial Corporation Limited summary financial report 2005