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 2016 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 2016 AGM
Number of Performance Shares
:
up to 10,000 Shares
Moratorium period
:
12 months from the date of grant of the Award
Date of vesting of Award
:
the date of grant of the Award
Rationale
Mr. Roy Ong is the Executive Director and Creative Director of Kingsmen Design Pte Ltd (“
Kingsmen Design
”),
a wholly-owned subsidiary of the Company. Mr. Roy Ong is responsible for charting the creative direction and
developing the design capabilities of Kingsmen Design, ensuring that all designs meet the aesthetic, functional
and budgetary requirements of the Group’s clients.
The Company seeks to reward Mr. Roy Ong, via the Proposed Award, for his good performance and valuable
contributions to the Group over the years. The Proposed Award will form a part of Mr. Roy Ong’s remuneration.
The Directors are of the view that granting the Award to Mr. Roy 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. Roy 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. Roy Ong will provide him with an increased sense
of ownership in, and encourage greater dedication to, the Group, which would align Mr. Roy Ong’s interests with
the interests of Shareholders. In arriving at the value of the Proposed Award to Mr. Roy Ong and the number of
Performance Shares proposed to be granted, the Committee took into consideration,
inter alia
, Mr. Roy Ong’s
scope of responsibilities and potential for future development, 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 to Mr. Roy Ong.
3.4 Applicable rules of the Listing Manual
(a)
Independent Shareholders’ Approval
Pursuant to Rule 853 of the Listing Manual, the Company is required to seek Independent Shareholders’
approval for the grant of Awards to Mr. Benedict Soh, Mr. Simon Ong and Mr. Roy Ong in accordance
with the terms set out in Sections 3.1, 3.2 and 3.3 respectively.
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