NOTES TO
FINANCIAL STATEMENTS
December 31, 2015
118
CITIC ENVIROTECH LTD.
Annual Report
2015
24 MEDIUM TERM NOTES (cont’d)
The net carrying amount of the Notes was stated net of issue expenses totalling S$6,499,000
(March 31, 2015 : $3,419,000). Such expenses will be amortised over the life of the Notes by
charging the expenses to profit or loss and increasing the net carrying amount of the Notes with
the corresponding amount. As of December 31, 2015, accumulated amortisation amounted to
$2,131,000 (March 31, 2015 : $1,471,000).
25 SHARE CAPITAL
Group and Company
December
31,
March
31,
December
31,
March
31,
2015
2015
2015
2015
Number of ordinary shares
(’000)
$’000
$’000
Issued and paid-up:
At beginning of the year
963,361 594,132 484,125 151,325
Issuance of shares, net of expenses
164,404 369,229 123,848 332,800
At end of the year
1,127,765 963,361 607,973 484,125
The ordinary shares, which have no par value, carry on vote per share and carry a right to dividends
as and when declared by the Company.
During the current financial year, the Company issued:
(a)
30,303,031 ordinary shares at $47,562,000 pursuant to the issuance of new ordinary shares to
CENVIT (Cayman) Company Limited.
(b) 117,926,189 (March 31, 2015 : 187,073,818) ordinary shares at $67,489,000 (March 31, 2015 :
$92,975,000) pursuant to the conversion of convertible bonds.
(c)
16,174,500 (March 31, 2015 : 8,350,000) ordinary shares at $8,797,000 (March 31, 2015 :
$3,450,000) pursuant to the conversion of the Employee Share Option Scheme.
During the previous financial year, the Company issued 173,805,000 ordinary shares at $236,375,000
for the purchase consideration of Memstar Pte.Ltd. and its principal subsidiaries.
Share options over ordinary shares granted under the employee share option scheme:
As at December 31, 2015, employees held options over 53,875,500 ordinary shares (of which
21,739,935 are unvested) in aggregate. The number of options and their expiry dates are as follows:
Number of options
Expiring on:
3,000,000
July 20, 2020
33,775,500
February 15, 2023
12,000,000
March 28, 2023
5,100,000
July 25, 2024
53,875,500
