DEFINING DESIGN
QUALITY
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“Performance Targets”
The performance targets prescribed by the Committee to be fulfilled by
a Participant for any particular period under the Scheme
"Rules"
The rules of the Scheme, as amended, modified or supplemented from
time to time
“Scheme”
The Kingsmen Performance Share Scheme, as amended, modified or
supplemented from time to time
“SGX-ST”
The Singapore Exchange Securities Trading Limited
“Shareholders”
The registered holders of the Shares or in the case of Depositors,
Depositors who have Shares entered against their names in the
Depository Register
“Shares"
Ordinary shares in the capital of the Company
"%" or "per cent"
Percentage or per centum
“$” or “S$”
Singapore dollars
2.2 For the purposes of the Scheme:
(a)
in relation to a Shareholder (including, where the context requires, the Company), “control” means the
capacity to dominate decision-making, directly or indirectly, in relation to the financial and operating
policies of that company;
(b)
unless rebutted, a person who holds directly or indirectly, a shareholding of 15% or more of the
Company’s issued share capital shall be presumed to be a Controlling Shareholder; and
(c)
in relation to a Controlling Shareholder, his “associate” shall have the meaning ascribed to it by the
Listing Manual or any other publication prescribing rules or regulations for corporations admitted to
the Official List of the SGX-ST (as amended, modified or supplemented from time to time).
2.3 The terms “Depositor”, “Depository Agent” and “Depository Register” shall have the meanings ascribed to
them respectively by Section 130A of the Act.
2.4 Any reference in the Scheme or the Rules to any enactment is a reference to that enactment as for the time
being amended or re-enacted. Any word defined under the Act or any statutory modification thereof and
used in the Scheme and the Rules shall have the meaning assigned to it under the Act.
2.5 Words importing the singular number shall include the plural number where the context admits and vice
versa. Words importing the masculine gender shall include the feminine gender where the context admits.
2.6 Any reference to a time of day shall be a reference to Singapore time.
3.
Objectives
The purpose of the Scheme is to provide an opportunity for Group Employees, Group Executive Directors and
Associated Company Employees, who have met the Performance Targets to be remunerated through an equity
stake in the Company and/or when due recognition should be given to any good work performance and/or significant
contribution to the Company as well as for Group Employees to receive part of their annual cash bonus payment in
the form of Shares. The Scheme is also extended to Non-Executive Directors.
The Company believes that the retention of outstanding employees within the Group is paramount to the Group’s
long-termobjectives of pursuing continuous growth and expansion in its future business and operations. Furthermore,
the Group acknowledges that the importance of preserving financial resources for future business development and
to withstand difficult times. In light of this, the Group’s strategy is to contain the remuneration of its employees and
executives which constitutes a major component of the Group’s operating costs.
The Scheme is formulated with those objectives in mind. Through the Scheme, the Company hopes to be able to
remain an attractive and competitive employer, and to be better able to manage its fixed overhead costs without
compromising on performance standards and efficiency.
Letter To Shareholders
