KINGSMEN CREATIVES LTD
ANNUAL REPORT
2014
109
The Directors are of the view that granting the Award to Mr. Benedict Soh will motivate him to continue to
achieve superior performance, and create greater Shareholders’ value in order to realise the benefits of the
Award in due course. This will enhance Mr. Benedict Soh’s long-term commitment to the Group, and promote
the long-term growth and development of the Group.
The Committee is of the view that granting the Award to Mr. Benedict Soh will provide him with an increased
sense of ownership in, and encourage greater dedication to, the Group, which would align Mr. Benedict Soh’s
interests with the interests of Shareholders. In arriving at the value of the Proposed Award to Mr. Benedict
Soh and the number of Performance Shares proposed to be granted, the Committee took into consideration,
inter alia
, Mr. Benedict Soh’s scope of responsibilities, his performance and contributions to the Group, the
Group’s financial performance and comparable industry benchmarks for executive remuneration.
Mr. Benedict Soh has abstained from the decision-making process of the Board and the Committee in relation
to the Proposed Award.
3.2 Proposed Award to Mr. Simon Ong Chin Sim, a Controlling Shareholder
As set out in Resolution 10 of the notice of the 2015 AGM, it is proposed that Mr. Simon Ong be granted an
Award in accordance with the rules of the Scheme and on the following terms:
Proposed date of grant of Award
: within four (4) weeks from the date of the 2015 AGM
Number of Performance Shares
: up to 140,000 Shares
Moratorium period
: 12 months from the date of issue and allotment
Date of vesting of Award
: the date of grant of the Award
Rationale
Mr. Simon Ong is the Group Managing Director and Executive Director, responsible for the Group’s overall
management and development of the Group’s local and overseas operations, as well as executing the strategic
plans set out by the Board. He is also responsible for the overall strategy and policies of the Group’s creative
directions and standards. As one of the founders of the Group, Mr. Simon Ong has been instrumental in
formulating the Group’s business strategy and creative direction.
The Company seeks to reward Mr. Simon Ong, via the Proposed Award, for his significant contributions to
the Group’s success and growth. The Proposed Award will form a part of Mr. Simon Ong’s remuneration.
Under the leadership of Mr. Simon Ong and the senior management team, the Group achieved a compounded
annual growth rate of 9.9% in revenue from S$190.6 million in FY2008 to S$336.4 million in FY2014 and a
compounded annual growth rate of 3.2% in net profit after tax from S$14.2 million in FY2008 to S$17.2 million
in FY2014.
The Directors are of the view that granting the Award to Mr. Simon Ong will motivate him to continue to
achieve superior performance, and create greater Shareholders’ value in order to realise the benefits of the
Award in due course. This will enhance Mr. Simon Ong’s long-term commitment to the Group, and promote
the long-term growth and development of the Group.
The Committee is of the view that granting the Award to Mr. Simon Ong will provide him with an increased
sense of ownership in, and encourage greater dedication to, the Group, which would align Mr. Simon Ong’s
interests with the interests of Shareholders. In arriving at the value of the Proposed Award to Mr. Simon Ong
and the number of Performance Shares proposed to be granted, the Committee took into consideration,
inter
alia
, Mr. Simon Ong’s scope of responsibilities, his performance and contributions to the Group, the Group’s
financial performance and comparable industry benchmarks for executive remuneration.
Mr. Simon Ong has abstained from the decision-making process of the Board and the Committee in relation
to the Proposed Award.
3.3 Proposed Award to Mr. Roy Ong Chin Kwan, an Associate of a Controlling Shareholder
As set out in Resolution 11 of the notice of the 2015 AGM, it is proposed that Mr. Roy Ong be granted an Award
in accordance with the rules of the Scheme and on the following terms:
Proposed date of grant of Award
: within four (4) weeks from the date of the 2015 AGM
Number of Performance Shares
: up to 30,000 Shares
Moratorium period
: 12 months from the date of issue and allotment
Date of vesting of Award
: the date of grant of the Award
Letter To Shareholders
