SUNNINGDALE TECH LTD
ANNUAL REPORT 2014
40
5.
Share plans (cont’d)
Shares granted under RSP (cont’d)
Since commencement of the RSP and PSP plans till the end of the financial year:
-
No awards have been granted to the controlling shareholders of the Company and their associates;
-
No participants other than mentioned above have received 5% or more of the total awards available under the plans;
-
No awards other than mentioned above have been granted to directors and employees of the Company and its
subsidiaries;
-
No awards that entitle the holder, to participate, by virtue of the awards, in any share issue of any other corporation have
been granted; and
-
No awards have been granted at a discount.
The ordinary shares if issued are entitled to receive dividends as and when declared by the Company. All ordinary shares carry
one vote per share without restriction.
The market price of each share as at 31 December 2014 under the above share award is $0.168 (2013: $0.141).
6.
Audit committee
The Audit Committee (“AC”) carried out its functions in accordance with section 201B(5) of the Singapore Companies Act,
Cap. 50, including the following:
•
Reviewed the audit plans and scope of audit examination of the external and internal auditors;
•
Reviewed with the external auditors their report on the financial statements and the assistance given by the Company’s
management to them;
•
Reviewed with the internal auditors the scope and results of the internal audit procedures;
•
Reviewed the financial statements of the Group and the Company prior to their submission to the directors of the
Company for adoption; and
•
Reviewed the interested person transactions (as defined in Chapter 9 of the Listing Manual of SGX).
The AC, having reviewed all non-audit services provided by the external auditors to the Group, is satisfied that the nature and
extent of such services would not affect the independence of the external auditors. The AC has also conducted a review of
interested person transactions.
The AC has recommended to the board of directors that the auditors, Ernst & Young LLP, be nominated for re-appointment as
auditors at the next annual general meeting of the Company.
Further details regarding the AC are disclosed in the Report on Corporate Governance.
DIRECTORS’ REPORT
DIRECTORS’ REPORT
